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

OptimizeRx (NASDAQ:OPRX) had its price target cut by Royal Bank of Canada from $14.00 to $7.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 75.44% from the stock’s current price.

A number of other equities analysts have also weighed in on OPRX. JMP Securities lowered their target price on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating on the stock in a research note on Thursday. B. Riley assumed coverage on OptimizeRx in a research note on Thursday, July 25th. They issued a “buy” rating and a $18.50 price target for the company. Stifel Nicolaus lowered their price objective on OptimizeRx from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 price objective (down from $20.00) on shares of OptimizeRx in a report on Thursday. Finally, Barclays reduced their target price on OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.42.

OptimizeRx Stock Performance

Shares of OPRX stock traded down $2.16 during trading on Thursday, reaching $3.99. 891,132 shares of the company’s stock were exchanged, compared to its average volume of 135,632. OptimizeRx has a twelve month low of $3.97 and a twelve month high of $16.65. The stock has a market capitalization of $73.10 million, a PE ratio of -3.99 and a beta of 1.32. The firm’s fifty day moving average price is $6.75 and its 200-day moving average price is $9.07. The company has a quick ratio of 3.07, a current ratio of 3.07 and a debt-to-equity ratio of 0.27.

Institutional Trading of OptimizeRx

Several large investors have recently bought and sold shares of OPRX. Rice Hall James & Associates LLC lifted its holdings in shares of OptimizeRx by 24.0% in the third quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after acquiring an additional 119,306 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in OptimizeRx in the 3rd quarter valued at approximately $810,000. First Light Asset Management LLC boosted its position in OptimizeRx by 5.1% in the second quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock valued at $18,270,000 after buying an additional 89,377 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of OptimizeRx by 42.9% during the third 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 last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of OptimizeRx by 101.8% during the second quarter. Renaissance Technologies LLC now owns 142,146 shares of the company’s stock worth $1,421,000 after buying an additional 71,700 shares in the last quarter. 76.47% of the stock is 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.