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

OptimizeRx (NASDAQ:OPRX) had its target price decreased by Barclays from $11.00 to $5.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other research analysts have also commented on the company. JMP Securities dropped their price target on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research report on Thursday. B. Riley initiated coverage on OptimizeRx in a report on Thursday, July 25th. They issued a “buy” rating and a $18.50 target price for the company. 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 research report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

OptimizeRx Stock Performance

OPRX stock opened at $3.83 on Thursday. OptimizeRx has a 52 week low of $3.78 and a 52 week high of $16.65. The company has a fifty day simple moving average of $6.60 and a two-hundred day simple moving average of $8.98. The company has a current ratio of 3.23, a quick ratio of 3.07 and a debt-to-equity ratio of 0.29.

Institutional Investors Weigh In On OptimizeRx

Institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC bought a new position in OptimizeRx in the 2nd quarter valued at $25,000. BNP Paribas Financial Markets boosted 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 purchasing an additional 2,414 shares during the period. Quest Partners LLC grew its holdings in shares of OptimizeRx by 15,965.6% in 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 last quarter. Connors Investor Services Inc. increased its stake in OptimizeRx by 15.1% in the 2nd quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock worth $191,000 after buying an additional 2,500 shares during the period. Finally, Barclays PLC lifted its holdings in OptimizeRx by 358.5% during the 3rd quarter. Barclays PLC now owns 26,934 shares of the company’s stock valued at $208,000 after buying an additional 21,060 shares in the last quarter. 76.47% of the stock is owned by 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.