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

OptimizeRx (NASDAQ:OPRX) had its price target trimmed by Stifel Nicolaus from $13.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

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

OptimizeRx Stock Performance

NASDAQ OPRX opened at $3.83 on Thursday. The stock’s 50-day simple moving average is $6.60 and its two-hundred day simple moving average is $8.98. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $16.65. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.07 and a current ratio of 3.23.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OPRX. Bullseye Asset Management LLC boosted its position in OptimizeRx by 55.6% during the 3rd quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock valued at $1,652,000 after buying an additional 76,458 shares during the period. Barclays PLC increased its position in shares of OptimizeRx by 358.5% in the third quarter. Barclays PLC now owns 26,934 shares of the company’s stock valued at $208,000 after acquiring an additional 21,060 shares during the period. BNP Paribas Financial Markets raised 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 valued at $28,000 after acquiring an additional 2,414 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of OptimizeRx by 15,965.6% during the third quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after purchasing an additional 9,739 shares during the period. Finally, Greenwood Capital Associates LLC grew its stake in shares of OptimizeRx by 8.0% in the third quarter. Greenwood Capital Associates LLC now owns 67,356 shares of the company’s stock worth $520,000 after purchasing an additional 4,999 shares during the last quarter. 76.47% of the stock is owned by hedge funds and other institutional investors.

OptimizeRx Company Profile

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.