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

OptimizeRx (NASDAQ:OPRX) had its target price trimmed by Stifel Nicolaus from $13.00 to $8.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

OptimizeRx Stock Performance

Shares of OPRX traded down $0.24 during mid-day trading on Thursday, reaching $3.82. 534,590 shares of the stock traded hands, compared to its average volume of 142,274. The stock has a fifty day simple moving average of $6.67 and a 200 day simple moving average of $9.03. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.27. OptimizeRx has a 12-month low of $3.78 and a 12-month high of $16.65.

Institutional Investors Weigh In On OptimizeRx

Several institutional investors and hedge funds have recently bought and sold shares of OPRX. BNP Paribas Financial Markets grew its holdings in shares of OptimizeRx by 189.2% during the third 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 stake in OptimizeRx by 15,965.6% in the third quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock valued at $76,000 after buying an additional 9,739 shares during the last quarter. Greenwood Capital Associates LLC boosted its holdings in shares of OptimizeRx by 8.0% during the third quarter. Greenwood Capital Associates LLC now owns 67,356 shares of the company’s stock valued at $520,000 after acquiring an additional 4,999 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of OptimizeRx during the third quarter worth about $810,000. Finally, Rice Hall James & Associates LLC grew 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 worth $4,751,000 after acquiring an additional 119,306 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.