OptimizeRx (NASDAQ:OPRX) Price Target Lowered to $8.00 at JMP Securities

OptimizeRx (NASDAQ:OPRX) had its target price decreased by JMP Securities from $16.00 to $8.00 in a research report report published on Thursday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. Barclays dropped their target price on shares of OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, August 12th. B. Riley assumed coverage on OptimizeRx in a report on Thursday, July 25th. They issued a “buy” rating and a $18.50 target price for the company. Finally, Royal Bank of Canada dropped their price objective on OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, OptimizeRx currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

OptimizeRx Trading Down 5.9 %

OptimizeRx stock traded down $0.24 during trading hours on Thursday, reaching $3.82. The stock had a trading volume of 534,590 shares, compared to its average volume of 142,274. 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 company has a fifty day simple moving average of $6.67 and a 200-day simple moving average of $9.03. OptimizeRx has a 52 week low of $3.78 and a 52 week high of $16.65.

Institutional Investors Weigh In On OptimizeRx

Large investors have recently made changes to their positions in the company. Rice Hall James & Associates LLC increased 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 worth $4,751,000 after buying an additional 119,306 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in OptimizeRx in the third quarter worth $810,000. First Light Asset Management LLC raised its stake in OptimizeRx by 5.1% during the second quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock valued at $18,270,000 after purchasing an additional 89,377 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in OptimizeRx by 42.9% during the third quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company’s stock valued at $1,868,000 after purchasing an additional 72,672 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of OptimizeRx by 101.8% in the 2nd quarter. Renaissance Technologies LLC now owns 142,146 shares of the company’s stock worth $1,421,000 after buying an additional 71,700 shares in the last quarter. 76.47% of the stock is currently owned by 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.