OptimizeRx (NASDAQ:OPRX) Price Target Lowered to $8.00 at JMP Securities

OptimizeRx (NASDAQ:OPRX) had its price objective decreased by JMP Securities from $16.00 to $8.00 in a research note released on Thursday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other research analysts also recently commented on OPRX. Royal Bank of Canada dropped their target price on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. B. Riley initiated coverage on shares of OptimizeRx in a report on Thursday, July 25th. They issued a “buy” rating and a $18.50 target price on the stock. Finally, Barclays dropped their target price on shares of OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

OptimizeRx Stock Down 5.7 %

OptimizeRx stock opened at $3.83 on Thursday. The company has a market capitalization of $70.17 million, a P/E ratio of -2.88 and a beta of 1.32. The firm’s fifty day simple moving average is $6.60 and its 200-day simple moving average is $8.97. The company has a current ratio of 3.23, a quick ratio of 3.07 and a debt-to-equity ratio of 0.29. OptimizeRx has a 1-year low of $3.78 and a 1-year high of $16.65.

Institutional Trading of OptimizeRx

Several hedge funds and other institutional investors have recently bought and sold shares of OPRX. Rice Hall James & Associates LLC grew its position in OptimizeRx by 24.0% in the 3rd quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after purchasing an additional 119,306 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in OptimizeRx in the 3rd quarter worth $810,000. First Light Asset Management LLC grew its position in OptimizeRx by 5.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock worth $18,270,000 after purchasing an additional 89,377 shares during the last quarter. Bullseye Asset Management LLC grew its position in OptimizeRx by 55.6% in the 3rd quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock worth $1,652,000 after purchasing an additional 76,458 shares during the last quarter. Finally, Essex Investment Management Co. LLC grew its position in OptimizeRx by 42.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company’s stock worth $1,868,000 after purchasing an additional 72,672 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.