Royal Bank of Canada Issues Pessimistic Forecast for OptimizeRx (NASDAQ:OPRX) Stock Price

OptimizeRx (NASDAQ:OPRX) had its price target reduced by Royal Bank of Canada from $14.00 to $7.00 in a research report sent to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

OPRX has been the subject of a number of other reports. Roth Mkm reaffirmed a “buy” rating and set a $16.00 price target (down from $20.00) on shares of OptimizeRx in a research note on Thursday. B. Riley initiated coverage on shares of OptimizeRx in a research report on Thursday, July 25th. They set a “buy” rating and a $18.50 price objective on the stock. Barclays decreased their target price on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday. JMP Securities cut their price target on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus decreased their price objective on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating for the company in a report on Thursday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.42.

OptimizeRx Trading Down 5.7 %

NASDAQ OPRX opened at $3.83 on Thursday. The company has a current ratio of 3.23, a quick ratio of 3.07 and a debt-to-equity ratio of 0.29. OptimizeRx has a 1-year low of $3.78 and a 1-year high of $16.65. The firm’s fifty day simple moving average is $6.60 and its 200-day simple moving average is $8.97. The company has a market capitalization of $70.17 million, a PE ratio of -2.88 and a beta of 1.32.

Institutional Investors Weigh In On OptimizeRx

Several institutional investors and hedge funds have recently added to or reduced their stakes in OPRX. Rice Hall James & Associates LLC lifted its holdings in OptimizeRx by 24.0% in the 3rd quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after purchasing an additional 119,306 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in OptimizeRx in the 3rd quarter worth approximately $810,000. First Light Asset Management LLC increased its position in OptimizeRx by 5.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock worth $18,270,000 after buying an additional 89,377 shares during the period. Bullseye Asset Management LLC increased its position in OptimizeRx by 55.6% in the 3rd quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock worth $1,652,000 after buying an additional 76,458 shares during the period. Finally, 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 worth $1,868,000 after buying an additional 72,672 shares during the period. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.