Brokerages Set OptimizeRx Co. (NASDAQ:OPRX) PT at $9.19

OptimizeRx Co. (NASDAQ:OPRX) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.19.

Several brokerages have recently weighed in on OPRX. Roth Mkm reissued a “buy” rating and set a $16.00 price objective (down previously from $20.00) on shares of OptimizeRx in a report on Thursday, November 14th. B. Riley decreased their price target on shares of OptimizeRx from $17.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, December 24th. JMP Securities dropped 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 note on Thursday, November 14th. Stifel Nicolaus decreased their target price on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Lake Street Capital reissued a “buy” rating and issued a $11.00 price target on shares of OptimizeRx in a research report on Tuesday, December 24th.

Insider Buying and Selling at OptimizeRx

In other OptimizeRx news, CEO William J. Febbo purchased 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $5.01 per share, with a total value of $100,200.00. Following the acquisition, the chief executive officer now directly owns 601,253 shares of the company’s stock, valued at approximately $3,012,277.53. This trade represents a 3.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.10% of the company’s stock.

Institutional Trading of OptimizeRx

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rice Hall James & Associates LLC lifted its position in OptimizeRx by 24.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after buying an additional 119,306 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of OptimizeRx in the third quarter worth about $810,000. First Light Asset Management LLC lifted its position in shares of 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 purchasing an additional 89,377 shares in the last quarter. Bullseye Asset Management LLC grew its stake in shares of OptimizeRx by 55.6% during the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock valued at $1,652,000 after purchasing an additional 76,458 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised 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.

OptimizeRx Stock Up 4.5 %

OPRX stock opened at $5.82 on Friday. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $16.65. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.29. The company has a market cap of $107.21 million, a PE ratio of -4.38 and a beta of 1.36. The business’s 50-day simple moving average is $5.16 and its 200 day simple moving average is $7.28.

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.