OptimizeRx Co. (NASDAQ:OPRX) Receives $9.19 Consensus Target Price from Brokerages

OptimizeRx Co. (NASDAQ:OPRX - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.19.

Several brokerages have recently weighed in on OPRX. William Blair reissued an "outperform" rating on shares of OptimizeRx in a research note on Thursday, November 14th. Royal Bank of Canada reduced their price objective on shares of OptimizeRx from $14.00 to $7.00 and set an "outperform" rating on the stock in a research report on Thursday, November 14th. Lake Street Capital reissued a "buy" rating and issued a $11.00 price objective on shares of OptimizeRx in a research note on Tuesday, December 24th. JMP Securities cut their target price on OptimizeRx from $16.00 to $8.00 and set a "market outperform" rating on the stock in a research note on Thursday, November 14th. Finally, B. Riley decreased their price target on OptimizeRx from $17.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, December 24th.

Insider Activity at OptimizeRx

In other news, CEO William J. Febbo purchased 20,000 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of $5.01 per share, for a total transaction of $100,200.00. Following the completion of the purchase, the chief executive officer now owns 601,253 shares in the company, valued at approximately $3,012,277.53. This represents a 3.44 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OPRX. Rice Hall James & Associates LLC raised its stake in OptimizeRx by 24.0% in the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company's stock worth $4,751,000 after buying an additional 119,306 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of OptimizeRx in the 3rd quarter worth $810,000. First Light Asset Management LLC lifted its stake in shares of OptimizeRx by 5.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company's stock worth $18,270,000 after purchasing an additional 89,377 shares during the last quarter. Bullseye Asset Management LLC lifted its stake in shares of OptimizeRx by 55.6% during the 3rd quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company's stock worth $1,652,000 after purchasing an additional 76,458 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its position in OptimizeRx by 42.9% during the third quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company's stock valued at $1,868,000 after purchasing an additional 72,672 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

OptimizeRx Trading Up 5.4 %

NASDAQ:OPRX traded up $0.28 during midday trading on Friday, hitting $5.49. 112,796 shares of the company traded hands, compared to its average volume of 179,398. The firm has a market capitalization of $101.13 million, a P/E ratio of -4.13 and a beta of 1.34. The firm's fifty day moving average is $5.15 and its 200-day moving average is $7.43. OptimizeRx has a 12-month low of $3.78 and a 12-month high of $16.65. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, enables care-focused engagement between life sciences organizations, healthcare providers, and patients at critical junctures throughout the patient care journey. It offers various tech-enabled marketing solutions through its Artificial Intelligence-generated Dynamic Audience and Activation Platform, which enables customers to execute traditional marketing campaigns on its proprietary digital point-of-care network, as well as dynamic marketing campaigns that optimize audiences in real time to increase the value of treatment information for healthcare professionals and patients in response to clinical care events.