Barclays Lowers OptimizeRx (NASDAQ:OPRX) Price Target to $5.00

OptimizeRx (NASDAQ:OPRX) had its target price cut by analysts at Barclays from $11.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential upside of 30.72% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. JMP Securities cut 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. B. Riley assumed coverage on shares of OptimizeRx in a research note on Thursday, July 25th. They issued a “buy” rating and a $18.50 price objective on the stock. Finally, Royal Bank of Canada cut their target price on OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. One 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 stock has an average rating of “Moderate Buy” and a consensus target price of $10.42.

OptimizeRx Stock Down 5.8 %

Shares of OPRX opened at $3.83 on Thursday. The stock has a market capitalization of $70.07 million, a price-to-earnings ratio of -2.88 and a beta of 1.32. OptimizeRx has a 52 week low of $3.78 and a 52 week high of $16.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.07 and a current ratio of 3.07. The stock has a fifty day moving average of $6.60 and a 200-day moving average of $8.99.

Hedge Funds Weigh In On OptimizeRx

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of OptimizeRx in the 1st quarter worth about $542,000. BNP Paribas Financial Markets increased its holdings in OptimizeRx by 283.6% in the first quarter. BNP Paribas Financial Markets now owns 27,910 shares of the company’s stock worth $339,000 after purchasing an additional 20,634 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of OptimizeRx by 5.6% during the 1st quarter. Blair William & Co. IL now owns 782,573 shares of the company’s stock worth $9,508,000 after buying an additional 41,469 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of OptimizeRx by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,027,293 shares of the company’s stock worth $12,482,000 after buying an additional 6,291 shares in the last quarter. Finally, First Light Asset Management LLC grew its position in shares of OptimizeRx by 0.6% during the 1st quarter. First Light Asset Management LLC now owns 1,737,584 shares of the company’s stock worth $21,112,000 after buying an additional 10,286 shares during the period. 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.