OptimizeRx’s (OPRX) “Sector Perform” Rating Reiterated at Royal Bank of Canada

OptimizeRx (NASDAQ:OPRX)‘s stock had its “sector perform” rating reissued by equities research analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They presently have a $6.00 price target on the stock, down from their prior price target of $7.00. Royal Bank of Canada’s price objective would indicate a potential upside of 3.09% from the stock’s current price.

OPRX has been the subject of several other research reports. William Blair reaffirmed an “outperform” rating on shares of OptimizeRx in a research report on Thursday, November 14th. Stifel Nicolaus reduced their price target on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. JMP Securities decreased their price objective on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Thursday, November 14th. Roth Mkm restated a “buy” rating and set a $16.00 target price (down from $20.00) on shares of OptimizeRx in a research note on Thursday, November 14th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 price target on shares of OptimizeRx in a research note on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, OptimizeRx presently has a consensus rating of “Moderate Buy” and an average price target of $9.06.

OptimizeRx Stock Performance

NASDAQ:OPRX opened at $5.82 on Wednesday. The company has a market cap of $107.21 million, a price-to-earnings ratio of -4.38 and a beta of 1.36. OptimizeRx has a fifty-two week low of $3.78 and a fifty-two week high of $16.65. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. The stock has a fifty day moving average price of $5.16 and a 200-day moving average price of $7.28.

Insider Transactions at OptimizeRx

In other news, CEO William J. Febbo acquired 20,000 shares of OptimizeRx stock in a transaction that occurred on Thursday, December 12th. The shares were acquired at an average price of $5.01 per share, for a total transaction of $100,200.00. Following the transaction, the chief executive officer now directly owns 601,253 shares of the company’s stock, valued at approximately $3,012,277.53. The trade was a 3.44 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.10% of the company’s stock.

Institutional Trading of OptimizeRx

Hedge funds have recently made changes to their positions in the company. First Light Asset Management LLC increased its stake in shares of OptimizeRx by 5.1% in 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 buying an additional 89,377 shares during the period. Rice Hall James & Associates LLC grew its holdings in OptimizeRx by 24.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after acquiring an additional 119,306 shares during the last quarter. Dimensional Fund Advisors LP increased its position in OptimizeRx by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 324,130 shares of the company’s stock valued at $3,241,000 after acquiring an additional 35,957 shares during the period. Essex Investment Management Co. LLC increased its position in OptimizeRx by 42.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company’s stock valued at $1,868,000 after acquiring an additional 72,672 shares during the period. Finally, Bullseye Asset Management LLC raised its stake in shares of OptimizeRx by 55.6% during the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock valued at $1,652,000 after acquiring an additional 76,458 shares during the last quarter. 76.47% of the stock is owned by institutional investors and hedge funds.

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.