OptimizeRx (NASDAQ:OPRX) Stock Gets Price Target Cut from Lake Street Capital

OptimizeRx (NASDAQ:OPRX) had its target price reduced by Lake Street Capital from $11.00 to $10.00 in a research note issued to investors on Thursday,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Citizens Jmp upped their price target on shares of OptimizeRx from $9.00 to $11.00 and gave the stock a “market outperform” rating in a research report on Friday, August 14th. Citigroup reissued a “market outperform” rating on shares of OptimizeRx in a research report on Tuesday, October 27th. Stifel Nicolaus cut their price objective on OptimizeRx from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday. Weiss Ratings upgraded OptimizeRx from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 25th. Finally, B. Riley Financial reaffirmed a “buy” rating and issued a $10.50 target price (down from $11.00) on shares of OptimizeRx in a research report on Thursday. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.21.

OptimizeRx Trading Down 17.2%

Shares of OptimizeRx stock traded down $1.53 during trading hours on Thursday, reaching $7.34. The stock had a trading volume of 611,439 shares, compared to its average volume of 210,704. The firm has a 50 day simple moving average of $8.43 and a two-hundred day simple moving average of $7.20. The firm has a market capitalization of $138.29 million, a price-to-earnings ratio of 29.36 and a beta of 1.20. The company has a current ratio of 5.06, a quick ratio of 5.58 and a debt-to-equity ratio of 0.09. OptimizeRx has a 1 year low of $4.54 and a 1 year high of $15.59.

OptimizeRx (NASDAQ:OPRX) last released its quarterly earnings data on Wednesday, November 11th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. OptimizeRx had a return on equity of 9.58% and a net margin of 5.33%. The business had revenue of $21.61 million for the quarter, compared to analyst estimates of $21.19 million. As a group, equities research analysts anticipate that OptimizeRx will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On OptimizeRx

Several large investors have recently made changes to their positions in the company. Royce & Associates LP boosted its position in shares of OptimizeRx by 20.7% during the third quarter. Royce & Associates LP now owns 1,315,057 shares of the company’s stock worth $10,981,000 after buying an additional 225,659 shares during the period. Marshall Wace LLP raised its stake in OptimizeRx by 183.2% during the 3rd quarter. Marshall Wace LLP now owns 459,362 shares of the company’s stock valued at $3,836,000 after acquiring an additional 297,176 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in OptimizeRx by 1.9% during the 1st quarter. Rice Hall James & Associates LLC now owns 601,921 shares of the company’s stock valued at $3,780,000 after acquiring an additional 11,247 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in OptimizeRx by 22.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 563,570 shares of the company’s stock worth $3,540,000 after acquiring an additional 102,661 shares during the period. Finally, Tocqueville Asset Management L.P. acquired a new position in OptimizeRx during the 3rd quarter worth $1,670,000. Institutional investors and hedge funds own 76.47% of the company’s stock.

About OptimizeRx

OptimizeRx is a healthcare technology company that connects life sciences companies with healthcare professionals and patients through digital communications. Its platform uses channels such as electronic health records and other clinical workflows to deliver relevant information at the point of care. The company’s services support programs for medication access and affordability, patient education and engagement, and communication between healthcare providers and life sciences organizations. OptimizeRx also provides tools intended to help life sciences companies reach clinicians and patients through digital channels.