OptimizeRx (NASDAQ:OPRX) Given New $5.00 Price Target at Barclays

OptimizeRx (NASDAQ:OPRX - Get Free Report) had its price target reduced by equities research analysts at Barclays from $11.00 to $5.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target suggests a potential upside of 23.15% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. B. Riley started coverage on shares of OptimizeRx in a research report on Thursday, July 25th. They set a "buy" rating and a $18.50 price objective for the company. JMP Securities dropped their target price on OptimizeRx from $16.00 to $8.00 and set a "market outperform" rating for the company in a report on Thursday. Finally, Royal Bank of Canada lowered their price target on shares of OptimizeRx from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, August 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $10.42.

OptimizeRx Stock Performance

OptimizeRx stock traded down $2.09 during mid-day trading on Thursday, hitting $4.06. 1,961,354 shares of the company's stock traded hands, compared to its average volume of 140,475. OptimizeRx has a fifty-two week low of $3.95 and a fifty-two week high of $16.65. The stock has a market cap of $74.39 million, a price-to-earnings ratio of -4.18 and a beta of 1.32. The firm has a 50 day simple moving average of $6.75 and a two-hundred day simple moving average of $9.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07.

Hedge Funds Weigh In On OptimizeRx

Several institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in shares of OptimizeRx by 189.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company's stock valued at $28,000 after purchasing an additional 2,414 shares during the last quarter. Quest Partners LLC lifted its position in OptimizeRx by 15,965.6% during the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company's stock valued at $76,000 after acquiring an additional 9,739 shares during the period. Greenwood Capital Associates LLC lifted its stake in shares of OptimizeRx by 8.0% in the 3rd quarter. Greenwood Capital Associates LLC now owns 67,356 shares of the company's stock worth $520,000 after purchasing an additional 4,999 shares during the period. Janney Montgomery Scott LLC bought a new stake in OptimizeRx during the third quarter valued at about $810,000. Finally, Rice Hall James & Associates LLC raised its position in shares of OptimizeRx by 24.0% during the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company's stock valued at $4,751,000 after buying an additional 119,306 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

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.