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

OptimizeRx Co. (NASDAQ:OPRX) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.06.

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

OptimizeRx Stock Performance

Shares of NASDAQ:OPRX opened at $9.47 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. OptimizeRx has a 1 year low of $3.78 and a 1 year high of $14.13. The firm has a market capitalization of $174.45 million, a PE ratio of -7.12 and a beta of 1.31. The business’s 50 day moving average price is $6.02 and its 200-day moving average price is $5.94.

Insider Activity at OptimizeRx

In related news, Director James Paul Lang purchased 321,408 shares of OptimizeRx stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $7.60 per share, with a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.10% of the stock is owned by insiders.

Institutional Trading of OptimizeRx

Several institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in shares of OptimizeRx during the fourth quarter worth $25,000. BNP Paribas Financial Markets grew its position in OptimizeRx by 189.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after acquiring an additional 2,414 shares in the last quarter. SG Americas Securities LLC purchased a new stake in OptimizeRx during the fourth quarter worth about $51,000. Wells Fargo & Company MN lifted its position in shares of OptimizeRx by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company’s stock worth $54,000 after purchasing an additional 2,797 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in shares of OptimizeRx by 15,965.6% in the third quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock valued at $76,000 after purchasing an additional 9,739 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.