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

OptimizeRx (NASDAQ:OPRX) had its target price lowered by equities researchers at Stifel Nicolaus from $13.00 to $8.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 83.07% from the stock’s current price.

OPRX has been the subject of several other research reports. JMP Securities dropped their target price on shares of OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a report on Thursday. Barclays reduced their price objective 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. Royal Bank of Canada dropped their target price on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 16th. Finally, B. Riley started coverage on shares of OptimizeRx in a report on Thursday, July 25th. They set a “buy” rating and a $18.50 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.70.

OptimizeRx Stock Performance

Shares of OPRX traded down $1.78 on Thursday, reaching $4.37. The company’s stock had a trading volume of 153,767 shares, compared to its average volume of 132,296. OptimizeRx has a 12-month low of $4.27 and a 12-month high of $16.65. The stock has a market capitalization of $80.07 million, a P/E ratio of -4.35 and a beta of 1.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07. The stock’s 50 day simple moving average is $6.75 and its two-hundred day simple moving average is $9.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC purchased a new stake in OptimizeRx during the 2nd quarter valued at about $25,000. BNP Paribas Financial Markets increased its holdings in OptimizeRx by 189.2% in the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after buying an additional 2,414 shares in the last quarter. Quest Partners LLC raised its holdings in OptimizeRx by 15,965.6% in the 3rd 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. Connors Investor Services Inc. increased its position in shares of OptimizeRx by 15.1% in the second quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock valued at $191,000 after buying an additional 2,500 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of OptimizeRx during the 2nd quarter valued at approximately $282,000. 76.47% of the stock is currently owned by hedge funds and other institutional investors.

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.