OptimizeRx (NASDAQ:OPRX) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of OptimizeRx (NASDAQ:OPRX) in a report issued on Wednesday, Marketbeat.com reports. They currently have a $6.00 price target on the stock, down from their prior price target of $7.00.

Several other equities research analysts have also recently commented on the company. B. Riley cut their price target on OptimizeRx from $17.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, December 24th. Stephens initiated coverage on shares of OptimizeRx in a report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 price objective on the stock. 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 report on Thursday, November 14th. Stifel Nicolaus decreased their price objective on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of OptimizeRx in a report on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, OptimizeRx currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.06.

OptimizeRx Stock Performance

Shares of OPRX stock opened at $5.41 on Wednesday. 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’s 50 day moving average is $5.16 and its two-hundred day moving average is $7.26. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. OptimizeRx has a 12-month low of $3.78 and a 12-month high of $16.65.

Insider Buying and Selling at OptimizeRx

In other news, CEO William J. Febbo purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought 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 $3,012,277.53. The trade was a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OptimizeRx

Several institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in OptimizeRx by 189.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after buying an additional 2,414 shares during the last quarter. Quest Partners LLC lifted its stake in OptimizeRx by 15,965.6% during the third quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after purchasing an additional 9,739 shares during the last quarter. Connors Investor Services Inc. boosted its holdings in OptimizeRx by 15.1% in the second quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock valued at $191,000 after purchasing an additional 2,500 shares in the last quarter. Barclays PLC increased its stake in OptimizeRx by 358.5% in the third quarter. Barclays PLC now owns 26,934 shares of the company’s stock valued at $208,000 after purchasing an additional 21,060 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in OptimizeRx during the second quarter worth approximately $282,000. 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.