Royal Bank of Canada Lowers OptimizeRx (NASDAQ:OPRX) Price Target to $18.00

OptimizeRx (NASDAQ:OPRX – Get Rating) had its price target reduced by investment analysts at Royal Bank of Canada from $22.00 to $18.00 in a report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 37.51% from the stock’s previous close.

A number of other brokerages have also recently issued reports on OPRX. B. Riley restated a “buy” rating and issued a $30.00 target price on shares of OptimizeRx in a report on Thursday, February 2nd. SVB Leerink reiterated an “outperform” rating on shares of OptimizeRx in a report on Friday, January 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.43.

OptimizeRx Stock Down 8.8 %

Shares of NASDAQ OPRX opened at $13.09 on Thursday. The business has a 50 day moving average price of $17.73 and a two-hundred day moving average price of $17.05. OptimizeRx has a fifty-two week low of $12.77 and a fifty-two week high of $43.28. The firm has a market cap of $224.49 million, a PE ratio of -20.78 and a beta of 1.04.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OPRX. BlackRock Inc. lifted its stake in shares of OptimizeRx by 2.6% in the 3rd quarter. BlackRock Inc. now owns 2,773,502 shares of the company’s stock valued at $41,105,000 after purchasing an additional 70,139 shares during the period. Vanguard Group Inc. boosted its stake in shares of OptimizeRx by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 1,115,086 shares of the company’s stock worth $42,049,000 after buying an additional 32,310 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of OptimizeRx by 8.8% during the 4th quarter. Blair William & Co. IL now owns 815,805 shares of the company’s stock worth $13,706,000 after buying an additional 66,148 shares during the last quarter. State Street Corp boosted its stake in shares of OptimizeRx by 3.0% during the 3rd quarter. State Street Corp now owns 679,698 shares of the company’s stock worth $10,073,000 after buying an additional 19,815 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in OptimizeRx by 33.7% in the 1st quarter. Northern Trust Corp now owns 372,953 shares of the company’s stock valued at $14,064,000 after purchasing an additional 93,979 shares during 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.