OptimizeRx (NASDAQ:OPRX) Price Target Cut to $16.00

OptimizeRx (NASDAQ:OPRX – Get Rating) had its target price lowered by analysts at Stifel Nicolaus from $19.00 to $16.00 in a note issued to investors on Thursday, The Fly reports. Stifel Nicolaus’ price target would suggest a potential upside of 22.23% from the stock’s current price.

Several other research firms also recently issued reports on OPRX. SVB Leerink reaffirmed an “outperform” rating on shares of OptimizeRx in a report on Friday, January 27th. B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of OptimizeRx in a report on Thursday, February 2nd. Finally, Royal Bank of Canada cut their price target on OptimizeRx from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, OptimizeRx presently has an average rating of “Moderate Buy” and an average target price of $27.43.

OptimizeRx Stock Performance

NASDAQ:OPRX opened at $13.09 on Thursday. The stock’s fifty day moving average price is $17.73 and its two-hundred day moving average price is $17.05. OptimizeRx has a 52-week low of $12.77 and a 52-week high of $43.28. The company has a market cap of $224.49 million, a price-to-earnings ratio of -20.78 and a beta of 1.04.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Texas Permanent School Fund raised its stake in OptimizeRx by 3.4% during the 2nd quarter. Texas Permanent School Fund now owns 13,030 shares of the company’s stock worth $357,000 after buying an additional 432 shares during the period. Thrivent Financial for Lutherans increased its holdings in OptimizeRx by 4.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,631 shares of the company’s stock worth $276,000 after purchasing an additional 797 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in OptimizeRx by 1.7% during the 3rd quarter. Nuveen Asset Management LLC now owns 49,959 shares of the company’s stock worth $741,000 after purchasing an additional 842 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in OptimizeRx by 39.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,033 shares of the company’s stock worth $51,000 after purchasing an additional 853 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in OptimizeRx by 248.8% during the 2nd quarter. Captrust Financial Advisors now owns 1,287 shares of the company’s stock worth $35,000 after purchasing an additional 918 shares in the last quarter. Institutional investors and hedge funds own 80.45% of the company’s stock.

About OptimizeRx

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OptimizeRx Corp. is digital health company, engaging in the provision of digital health messaging via electronic health records, which serve as a direct channel for pharmaceutical companies to communicate with healthcare providers. It offers electronic health record (EHR) workflow solutions which include financial messaging, patient education, and brand messaging and brand support.