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

OptimizeRx (NASDAQ:OPRX) had its price target cut by investment analysts at Stifel Nicolaus from $13.00 to $8.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 109.15% from the stock’s current price.

Several other equities analysts also recently commented on OPRX. JMP Securities decreased 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 note on Thursday. B. Riley initiated coverage on shares of OptimizeRx in a report on Thursday, July 25th. They set a “buy” rating and a $18.50 target price on the stock. Royal Bank of Canada reduced their price target on OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. Finally, Barclays cut their target price on OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, OptimizeRx has an average rating of “Moderate Buy” and a consensus price target of $10.42.

OptimizeRx Stock Performance

OPRX opened at $3.83 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07. The business has a fifty day simple moving average of $6.60 and a 200 day simple moving average of $8.99. OptimizeRx has a 1 year low of $3.78 and a 1 year high of $16.65. The company has a market capitalization of $70.07 million, a PE ratio of -2.88 and a beta of 1.32.

Institutional Investors Weigh In On OptimizeRx

Several hedge funds and other institutional investors have recently made changes to their positions in OPRX. Rice Hall James & Associates LLC boosted its position in OptimizeRx by 24.0% in the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock valued at $4,751,000 after buying an additional 119,306 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in OptimizeRx in the 3rd quarter worth about $810,000. First Light Asset Management LLC grew its stake in shares of OptimizeRx by 5.1% in 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 during the last quarter. Bullseye Asset Management LLC increased its holdings in OptimizeRx by 55.6% in 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 period. Finally, Essex Investment Management Co. LLC raised its position in OptimizeRx by 42.9% during 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 owned by institutional investors.

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.