Royal Bank of Canada Cuts OptimizeRx (NASDAQ:OPRX) Price Target to $14.00

OptimizeRx (NASDAQ:OPRX) had its target price reduced by Royal Bank of Canada from $17.00 to $14.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

OPRX has been the topic of several other reports. JMP Securities restated a market outperform rating and issued a $16.00 price objective on shares of OptimizeRx in a report on Friday, June 21st. Barclays reduced their price target on shares of OptimizeRx from $15.00 to $11.00 and set an equal weight rating on the stock in a research note on Monday, August 12th. Stifel Nicolaus reaffirmed a buy rating and set a $13.00 price objective on shares of OptimizeRx in a research report on Wednesday, May 15th. Finally, B. Riley began coverage on OptimizeRx in a research report on Thursday, July 25th. They issued a buy rating and a $18.50 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, OptimizeRx has a consensus rating of Moderate Buy and a consensus target price of $14.50.

OptimizeRx Trading Down 0.7 %

OPRX stock opened at $8.34 on Friday. OptimizeRx has a 52-week low of $6.92 and a 52-week high of $16.65. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 2.88. The business has a fifty day moving average of $10.08 and a two-hundred day moving average of $11.73.

Institutional Investors Weigh In On OptimizeRx

Hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of OptimizeRx by 215.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,142 shares of the company’s stock valued at $31,000 after acquiring an additional 1,462 shares in the last quarter. Cetera Trust Company N.A purchased a new position in shares of OptimizeRx in the 4th quarter valued at about $77,000. Hillsdale Investment Management Inc. purchased a new position in shares of OptimizeRx in the 4th quarter valued at about $225,000. Millrace Asset Group Inc. acquired a new position in shares of OptimizeRx during the fourth quarter worth about $1,917,000. Finally, G2 Investment Partners Management LLC increased its holdings in OptimizeRx by 26.0% in the fourth quarter. G2 Investment Partners Management LLC now owns 468,120 shares of the company’s stock valued at $6,699,000 after buying an additional 96,646 shares during the last quarter. 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.