Brokerages Set OptimizeRx Co. (NASDAQ:OPRX) Price Target at $9.06

Shares of OptimizeRx Co. (NASDAQ:OPRX) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $9.06.

A number of brokerages recently issued reports on OPRX. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price target (down previously from $7.00) on shares of OptimizeRx in a research report on Wednesday, January 8th. JMP Securities reissued a “market outperform” rating and set a $8.00 price target on shares of OptimizeRx in a research report on Thursday, February 6th. B. Riley raised OptimizeRx to a “strong-buy” rating in a research report on Wednesday, March 12th. Stephens began coverage on OptimizeRx in a research report on Friday, December 20th. They set an “equal weight” rating and a $5.50 price target on the stock. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of OptimizeRx in a report on Tuesday, December 24th.

OptimizeRx Trading Down 1.8 %

Shares of NASDAQ:OPRX opened at $8.63 on Wednesday. The company has a market capitalization of $158.97 million, a P/E ratio of -6.49 and a beta of 1.31. OptimizeRx has a 1 year low of $3.78 and a 1 year high of $14.13. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. The business’s 50 day simple moving average is $5.84 and its 200 day simple moving average is $5.94.

Insider Activity

In other news, Director James Paul Lang purchased 321,408 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $7.60 per share, for a total transaction of $2,442,700.80. Following the purchase, the director now owns 389,452 shares of the company’s stock, valued at approximately $2,959,835.20. The trade was a 472.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OPRX. Whetstone Capital Advisors LLC bought a new position in shares of OptimizeRx in the 4th quarter valued at $6,563,000. Royce & Associates LP bought a new position in shares of OptimizeRx in the 4th quarter valued at $5,198,000. Tang Capital Management LLC bought a new position in shares of OptimizeRx in the 4th quarter valued at $1,075,000. Kennedy Capital Management LLC raised its position in OptimizeRx by 57.8% during the 4th quarter. Kennedy Capital Management LLC now owns 594,000 shares of the company’s stock worth $2,887,000 after purchasing an additional 217,676 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in OptimizeRx during the 4th quarter worth $673,000. 76.47% of the stock is currently 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.