Lake Street Capital Reiterates Buy Rating for OptimizeRx (NASDAQ:OPRX)

Lake Street Capital reaffirmed their buy rating on shares of OptimizeRx (NASDAQ:OPRX - Free Report) in a research report report published on Tuesday,Benzinga reports. They currently have a $11.00 price target on the stock.

A number of other research analysts have also recently weighed in on the stock. William Blair reiterated an "outperform" rating on shares of OptimizeRx in a research note on Thursday, November 14th. JMP Securities dropped their target price on OptimizeRx from $16.00 to $8.00 and set a "market outperform" rating on the stock in a research report on Thursday, November 14th. B. Riley decreased their price target on OptimizeRx from $17.00 to $13.00 and set a "buy" rating on the stock in a research report on Tuesday. Stephens started coverage on OptimizeRx in a research report on Friday. They issued an "equal weight" rating and a $5.50 price objective on the stock. Finally, Royal Bank of Canada cut their price objective on OptimizeRx from $14.00 to $7.00 and set an "outperform" rating for the company in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $9.19.

OptimizeRx Stock Up 2.3 %

Shares of NASDAQ:OPRX traded up $0.11 during mid-day trading on Tuesday, hitting $4.94. 204,473 shares of the company traded hands, compared to its average volume of 165,176. The stock has a 50-day moving average price of $5.34 and a two-hundred day moving average price of $7.73. The stock has a market cap of $91.00 million, a P/E ratio of -3.71 and a beta of 1.34. 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 has a 12-month low of $3.78 and a 12-month high of $16.65.

Insider Activity at OptimizeRx

In other OptimizeRx news, CEO William J. Febbo bought 20,000 shares of OptimizeRx stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $5.01 per share, with a total value of $100,200.00. Following the acquisition, the chief executive officer now owns 601,253 shares in the company, valued at approximately $3,012,277.53. This trade represents a 3.44 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.10% of the stock is currently owned by insiders.

Institutional Trading of OptimizeRx

Several hedge funds have recently added to or reduced their stakes in OPRX. Bank of New York Mellon Corp increased its holdings in shares of OptimizeRx by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 111,719 shares of the company's stock worth $1,117,000 after buying an additional 10,041 shares during the period. Rhumbline Advisers grew its position in OptimizeRx by 9.2% during the 2nd quarter. Rhumbline Advisers now owns 31,462 shares of the company's stock worth $315,000 after acquiring an additional 2,658 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in OptimizeRx by 23.5% in the 2nd quarter. Rice Hall James & Associates LLC now owns 496,135 shares of the company's stock worth $4,961,000 after purchasing an additional 94,253 shares during the period. Dimensional Fund Advisors LP lifted its position in OptimizeRx by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 324,130 shares of the company's stock valued at $3,241,000 after purchasing an additional 35,957 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of OptimizeRx by 101.8% during the second quarter. Renaissance Technologies LLC now owns 142,146 shares of the company's stock valued at $1,421,000 after purchasing an additional 71,700 shares during the period. 76.47% of the stock is owned by institutional investors.

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.