OptimizeRx (NASDAQ:OPRX) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of OptimizeRx (NASDAQ:OPRX) in a research report report published on Wednesday morning, Marketbeat reports. The brokerage currently has a $6.00 target price on the stock, down from their prior target price of $7.00.

Several other research analysts also recently issued reports on OPRX. B. Riley lowered their price objective on shares of OptimizeRx from $17.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, December 24th. Roth Mkm restated a “buy” rating and issued a $16.00 price target (down previously from $20.00) on shares of OptimizeRx in a research report on Thursday, November 14th. Stephens started coverage on OptimizeRx in a research note on Friday, December 20th. They set an “equal weight” rating and a $5.50 price objective for the company. Stifel Nicolaus lowered their target price on OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, JMP Securities cut their price target on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.06.

OptimizeRx Price Performance

OPRX stock opened at $5.41 on Wednesday. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $99.66 million, a P/E ratio of -4.07 and a beta of 1.36. The business has a 50 day simple moving average of $5.16 and a 200-day simple moving average of $7.26. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $16.65.

Insider Activity at OptimizeRx

In related news, CEO William J. Febbo acquired 20,000 shares of OptimizeRx stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $5.01 per share, for a total transaction of $100,200.00. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OPRX. Barclays PLC grew its holdings in shares of OptimizeRx by 358.5% in 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. Bullseye Asset Management LLC boosted its position in OptimizeRx by 55.6% during the third 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 in the last quarter. BNP Paribas Financial Markets grew its holdings in 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 purchasing an additional 2,414 shares during the last quarter. Quest Partners LLC increased its position 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 in the last quarter. Finally, Greenwood Capital Associates LLC raised its stake in shares of OptimizeRx by 8.0% during the 3rd quarter. Greenwood Capital Associates LLC now owns 67,356 shares of the company’s stock worth $520,000 after buying an additional 4,999 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

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.