OptimizeRx (NASDAQ:OPRX) Price Target Raised to $11.00

OptimizeRx (NASDAQ:OPRX) had its target price upped by B. Riley Financial from $10.00 to $11.00 in a research note published on Tuesday morning, Marketbeat reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on OPRX. Wall Street Zen lowered shares of OptimizeRx from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 20th. Weiss Ratings upgraded OptimizeRx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 25th. UBS Group set a $11.00 target price on OptimizeRx in a report on Friday, August 14th. Citigroup reaffirmed a “market outperform” rating on shares of OptimizeRx in a report on Friday, August 14th. Finally, Citizens Jmp raised their target price on shares of OptimizeRx from $9.00 to $11.00 and gave the company a “market outperform” rating in a report on Friday, August 14th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, OptimizeRx presently has a consensus rating of “Moderate Buy” and an average target price of $11.57.

OptimizeRx Stock Performance

NASDAQ:OPRX opened at $8.39 on Tuesday. The stock has a 50-day moving average price of $7.52 and a 200 day moving average price of $6.49. The stock has a market capitalization of $158.07 million, a P/E ratio of 36.48 and a beta of 1.26. OptimizeRx has a 12-month low of $4.54 and a 12-month high of $22.25. The company has a current ratio of 5.58, a quick ratio of 5.58 and a debt-to-equity ratio of 0.14.

OptimizeRx (NASDAQ:OPRX) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. OptimizeRx had a return on equity of 9.44% and a net margin of 4.66%.The business had revenue of $20.50 million during the quarter, compared to the consensus estimate of $20.20 million. Equities research analysts forecast that OptimizeRx will post 0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On OptimizeRx

Several hedge funds and other institutional investors have recently modified their holdings of the business. Corient Private Wealth LP bought a new stake in OptimizeRx during the 2nd quarter valued at $77,000. AWM Investment Company Inc. acquired a new stake in shares of OptimizeRx during the second quarter worth about $1,375,000. Bank of New York Mellon Corp acquired a new stake in OptimizeRx during the 2nd quarter valued at approximately $370,000. Segall Bryant & Hamill LLC purchased a new stake in OptimizeRx in the first quarter valued at $1,185,000. Finally, Quantinno Capital Management LP boosted its stake in shares of OptimizeRx by 180.1% in the first quarter. Quantinno Capital Management LP now owns 49,022 shares of the company’s stock worth $308,000 after buying an additional 31,518 shares during the last quarter. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

OptimizeRx Company Profile

OptimizeRx Corporation (NASDAQ: OPRX) is a digital health company that provides technology and data-driven engagement solutions for life sciences companies, healthcare providers and patients. Its platform is designed to support communication across the healthcare journey, helping pharmaceutical and biotechnology companies connect with clinicians and patients through digital channels.

The company’s solutions include point-of-care messaging, patient savings and financial assistance programs, medication adherence and support services, and analytics and audience-engagement tools.