OptimizeRx (NASDAQ:OPRX) Price Target Cut to $8.00 by Analysts at Stifel Nicolaus

OptimizeRx (NASDAQ:OPRX - Get Free Report) had its target price reduced by analysts at Stifel Nicolaus from $13.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price objective would indicate a potential upside of 97.04% from the stock's previous close.

A number of other research firms have also issued reports on OPRX. Royal Bank of Canada lowered their target price on shares of OptimizeRx from $17.00 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, August 16th. JMP Securities lowered their target price on OptimizeRx from $16.00 to $8.00 and set a "market outperform" rating on the stock in a report on Thursday. Barclays reduced their price objective on OptimizeRx from $11.00 to $5.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, B. Riley began coverage on shares of OptimizeRx in a research report on Thursday, July 25th. They issued a "buy" rating and a $18.50 price target on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.42.

OptimizeRx Trading Down 34.0 %

Shares of OPRX stock traded down $2.09 during trading hours on Thursday, reaching $4.06. 1,962,988 shares of the stock traded hands, compared to its average volume of 140,475. The business has a fifty day moving average price of $6.75 and a 200 day moving average price of $9.07. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.27. OptimizeRx has a 1-year low of $3.95 and a 1-year high of $16.65. The firm has a market capitalization of $74.39 million, a PE ratio of -4.06 and a beta of 1.32.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC raised its stake in OptimizeRx by 5.1% during the second quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company's stock worth $18,270,000 after acquiring an additional 89,377 shares in the last quarter. Vanguard Group Inc. lifted its stake in OptimizeRx by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,027,293 shares of the company's stock valued at $12,482,000 after buying an additional 6,291 shares during the period. AWM Investment Company Inc. raised its position in shares of OptimizeRx by 4.0% during the first quarter. AWM Investment Company Inc. now owns 853,042 shares of the company's stock worth $10,364,000 after purchasing an additional 33,000 shares during the period. Blair William & Co. IL raised its holdings in shares of OptimizeRx by 5.6% in the 1st quarter. Blair William & Co. IL now owns 782,573 shares of the company's stock worth $9,508,000 after acquiring an additional 41,469 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted 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.

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.