Barclays Issues Pessimistic Forecast for OptimizeRx (NASDAQ:OPRX) Stock Price

OptimizeRx (NASDAQ:OPRX) had its price objective cut by Barclays from $11.00 to $5.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 30.72% from the stock’s current price.

OPRX has been the topic of several other research reports. Royal Bank of Canada dropped their price objective on 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 reduced their price objective on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Thursday. Finally, B. Riley started coverage on shares of OptimizeRx in a report on Thursday, July 25th. They issued a “buy” rating and a $18.50 price objective on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

OptimizeRx Stock Performance

NASDAQ OPRX opened at $3.83 on Thursday. The firm has a market capitalization of $70.07 million, a P/E ratio of -2.88 and a beta of 1.32. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $6.60 and its two-hundred day moving average price is $8.99. OptimizeRx has a 1 year low of $3.78 and a 1 year high of $16.65.

Institutional Investors Weigh In On OptimizeRx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in OptimizeRx in the 2nd quarter worth about $25,000. BNP Paribas Financial Markets raised its position in shares of OptimizeRx by 189.2% in the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after buying an additional 2,414 shares in the last quarter. Quest Partners LLC boosted its stake in shares of 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 period. Connors Investor Services Inc. grew its position in OptimizeRx by 15.1% during the second quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock worth $191,000 after buying an additional 2,500 shares in the last quarter. Finally, Barclays PLC increased its stake in OptimizeRx by 358.5% during the 3rd quarter. Barclays PLC now owns 26,934 shares of the company’s stock worth $208,000 after acquiring an additional 21,060 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.