Analysts Set OptimizeRx Co. (NASDAQ:OPRX) Target Price at $9.06

Shares of OptimizeRx Co. (NASDAQ:OPRX - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $9.06.

OPRX has been the subject of several analyst reports. Lake Street Capital reissued a "buy" rating and set a $11.00 price target on shares of OptimizeRx in a research report on Tuesday, December 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $6.00 price target (down previously from $7.00) on shares of OptimizeRx in a research note on Wednesday, January 8th. B. Riley raised OptimizeRx to a "strong-buy" rating in a report on Wednesday, March 12th. Stephens started coverage on OptimizeRx in a report on Friday, December 20th. They issued an "equal weight" rating and a $5.50 price objective for the company. Finally, JMP Securities restated a "market outperform" rating and set a $8.00 target price on shares of OptimizeRx in a research note on Thursday, February 6th.

Insiders Place Their Bets

In other OptimizeRx news, Director James Paul Lang bought 321,408 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $7.60 per share, for a total transaction of $2,442,700.80. Following the completion of the transaction, the director now owns 389,452 shares of the company's stock, valued at $2,959,835.20. This represents a 472.35 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OPRX. Whetstone Capital Advisors LLC purchased a new stake in OptimizeRx in the fourth quarter worth about $6,563,000. Royce & Associates LP bought a new position in shares of OptimizeRx during the 4th quarter valued at approximately $5,198,000. Tang Capital Management LLC purchased a new stake in OptimizeRx in the 4th quarter worth approximately $1,075,000. Kennedy Capital Management LLC raised its stake in OptimizeRx by 57.8% during the 4th quarter. Kennedy Capital Management LLC now owns 594,000 shares of the company's stock worth $2,887,000 after acquiring an additional 217,676 shares during the period. Finally, Walleye Capital LLC purchased a new position in OptimizeRx during the fourth quarter valued at approximately $673,000. 76.47% of the stock is currently owned by institutional investors.

OptimizeRx Stock Up 3.3 %

NASDAQ:OPRX traded up $0.27 on Friday, reaching $8.45. 142,638 shares of the stock traded hands, compared to its average volume of 268,949. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $156.24 million, a price-to-earnings ratio of -6.35 and a beta of 1.18. OptimizeRx has a 12 month low of $3.78 and a 12 month high of $14.13. The company's fifty day simple moving average is $7.08 and its 200 day simple moving average is $6.05.

About OptimizeRx

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.