OptimizeRx (NASDAQ:OPRX) Earns “Sector Perform” Rating from Royal Bank of Canada

OptimizeRx (NASDAQ:OPRX)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They currently have a $6.00 price target on the stock, down from their prior price target of $7.00. Royal Bank of Canada’s target price indicates a potential upside of 10.91% from the stock’s previous close.

OPRX has been the topic of several other reports. Stephens initiated coverage on OptimizeRx in a report on Friday, December 20th. They set an “equal weight” rating and a $5.50 target price on the stock. Lake Street Capital reissued a “buy” rating and set a $11.00 price objective on shares of OptimizeRx in a research note on Tuesday, December 24th. Roth Mkm reaffirmed a “buy” rating and issued a $16.00 target price (down from $20.00) on shares of OptimizeRx in a research note on Thursday, November 14th. Barclays lowered their price target 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, November 14th. Finally, B. Riley cut their price objective on shares of OptimizeRx from $17.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, OptimizeRx currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.06.

OptimizeRx Stock Performance

OPRX opened at $5.41 on Wednesday. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $16.65. The firm has a market capitalization of $99.66 million, a PE ratio of -4.07 and a beta of 1.36. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $5.16 and its 200 day moving average price is $7.25.

Insider Activity

In other news, CEO William J. Febbo purchased 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $5.01 per share, for a total transaction of $100,200.00. Following the completion of the purchase, the chief executive officer now directly owns 601,253 shares of the company’s stock, valued at $3,012,277.53. The trade was a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On OptimizeRx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPRX. Bank of New York Mellon Corp increased its stake in OptimizeRx by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 111,719 shares of the company’s stock valued at $1,117,000 after purchasing an additional 10,041 shares during the period. Rhumbline Advisers raised its stake in OptimizeRx by 9.2% during the 2nd quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock valued at $315,000 after acquiring an additional 2,658 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in OptimizeRx by 23.5% during the 2nd quarter. Rice Hall James & Associates LLC now owns 496,135 shares of the company’s stock worth $4,961,000 after acquiring an additional 94,253 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of OptimizeRx by 12.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 324,130 shares of the company’s stock valued at $3,241,000 after purchasing an additional 35,957 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of OptimizeRx by 101.8% in the 2nd quarter. Renaissance Technologies LLC now owns 142,146 shares of the company’s stock valued at $1,421,000 after purchasing an additional 71,700 shares during 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.