OptimizeRx (NASDAQ:OPRX) Price Target Lowered to $7.00 at Royal Bank of Canada

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,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm restated a “buy” rating and set a $16.00 price objective (down previously from $20.00) on shares of OptimizeRx in a report on Thursday. B. Riley began coverage on OptimizeRx in a report on Thursday, July 25th. They set a “buy” rating and a $18.50 target price for the company. Barclays reduced 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 dropped their price objective on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Thursday. Finally, Stifel Nicolaus decreased their target price on shares of OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

OptimizeRx Trading Down 4.2 %

OptimizeRx stock traded down $0.17 during mid-day trading on Thursday, hitting $3.89. 439,091 shares of the company’s stock traded hands, compared to its average volume of 141,844. OptimizeRx has a fifty-two week low of $3.78 and a fifty-two week high of $16.65. The firm has a 50 day simple moving average of $6.67 and a two-hundred day simple moving average of $9.03. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OPRX. Summit Securities Group LLC bought a new position in OptimizeRx in the second quarter valued at about $25,000. BNP Paribas Financial Markets grew its stake in shares of OptimizeRx by 189.2% during the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after buying an additional 2,414 shares during the last quarter. Quest Partners LLC lifted its stake in shares of OptimizeRx by 15,965.6% in the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock valued at $76,000 after acquiring an additional 9,739 shares during the last quarter. Connors Investor Services Inc. boosted its holdings in shares of OptimizeRx by 15.1% during the 2nd quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock valued at $191,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in OptimizeRx during the 2nd quarter worth $282,000. 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.