Stifel Nicolaus Lowers OptimizeRx (NASDAQ:OPRX) Price Target to $8.00

OptimizeRx (NASDAQ:OPRX) had its target price cut by Stifel Nicolaus from $13.00 to $8.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 109.15% from the company’s previous close.

Several other brokerages also recently commented on OPRX. Royal Bank of Canada cut their price target on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 16th. Barclays cut their price objective on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday. JMP Securities lowered their target price on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a report on Thursday. Finally, B. Riley began coverage on shares of OptimizeRx in a research report on Thursday, July 25th. They set a “buy” rating and a $18.50 price target on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

OptimizeRx Stock Performance

OPRX stock opened at $3.83 on Thursday. The firm has a market cap of $70.07 million, a PE ratio of -2.88 and a beta of 1.32. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $6.60 and its two-hundred day moving average price is $8.99. OptimizeRx has a 1-year low of $3.78 and a 1-year high of $16.65.

Institutional Trading of OptimizeRx

A number of large investors have recently added to or reduced their stakes in OPRX. BNP Paribas Financial Markets increased its stake in shares of OptimizeRx by 189.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after purchasing an additional 2,414 shares during the last quarter. Connors Investor Services Inc. grew its holdings in OptimizeRx by 15.1% during the second quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock worth $191,000 after purchasing an additional 2,500 shares during the period. Summit Securities Group LLC bought a new stake in OptimizeRx in the second quarter valued at approximately $25,000. Rhumbline Advisers lifted its position in shares of OptimizeRx by 9.2% in the second quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock valued at $315,000 after buying an additional 2,658 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its holdings in shares of OptimizeRx by 8.0% during the 3rd quarter. Greenwood Capital Associates LLC now owns 67,356 shares of the company’s stock worth $520,000 after acquiring an additional 4,999 shares during the last quarter. 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.