OptimizeRx (NASDAQ:OPRX) Given New $7.00 Price Target at Royal Bank of Canada

OptimizeRx (NASDAQ:OPRX) had its price objective dropped by stock analysts at Royal Bank of Canada from $14.00 to $7.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 83.01% from the company’s current price.

A number of other analysts have also issued reports on the company. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price target (down from $20.00) on shares of OptimizeRx in a research note on Thursday. Stifel Nicolaus lowered their target price on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday. B. Riley started coverage on shares of OptimizeRx in a research report on Thursday, July 25th. They issued a “buy” rating and a $18.50 target price for the company. JMP Securities lowered their price target on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research report on Thursday. Finally, Barclays decreased their target price on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.42.

OptimizeRx Stock Performance

OPRX opened at $3.83 on Thursday. The firm’s fifty day simple moving average is $6.60 and its two-hundred day simple moving average is $8.99. OptimizeRx has a 52-week low of $3.78 and a 52-week high of $16.65. The company has a market cap of $70.07 million, a price-to-earnings ratio of -2.88 and a beta of 1.32. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On OptimizeRx

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of OptimizeRx during the first quarter worth $542,000. BNP Paribas Financial Markets boosted its holdings in shares of OptimizeRx by 283.6% in the first quarter. BNP Paribas Financial Markets now owns 27,910 shares of the company’s stock valued at $339,000 after acquiring an additional 20,634 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of OptimizeRx by 5.6% in the first quarter. Blair William & Co. IL now owns 782,573 shares of the company’s stock valued at $9,508,000 after acquiring an additional 41,469 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of OptimizeRx by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,027,293 shares of the company’s stock worth $12,482,000 after acquiring an additional 6,291 shares during the period. Finally, First Light Asset Management LLC raised its holdings in OptimizeRx by 0.6% during the first quarter. First Light Asset Management LLC now owns 1,737,584 shares of the company’s stock worth $21,112,000 after purchasing an additional 10,286 shares in the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.