OptimizeRx (NASDAQ:OPRX) Earns “Market Outperform” Rating from JMP Securities

OptimizeRx (NASDAQ:OPRX)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports. They currently have a $15.00 price target on the stock. JMP Securities’ target price indicates a potential upside of 51.82% from the stock’s previous close.

Several other brokerages have also issued reports on OPRX. Stifel Nicolaus reiterated a “buy” rating and set a $13.00 target price on shares of OptimizeRx in a research report on Monday, April 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $17.00 target price on shares of OptimizeRx in a research report on Monday, April 1st. Finally, Barclays initiated coverage on shares of OptimizeRx in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $15.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.86.

OptimizeRx Stock Performance

OptimizeRx stock traded down $0.44 during mid-day trading on Tuesday, hitting $9.88. 77,462 shares of the company traded hands, compared to its average volume of 116,829. OptimizeRx has a one year low of $6.92 and a one year high of $16.65. The stock has a market cap of $179.32 million, a price-to-earnings ratio of -12.35 and a beta of 0.98. The stock has a fifty day moving average price of $13.70 and a 200-day moving average price of $11.97.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OPRX. Vanguard Group Inc. grew its position in shares of OptimizeRx by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 1,021,002 shares of the company’s stock worth $14,611,000 after buying an additional 28,416 shares during the period. Greenwood Capital Associates LLC grew its position in shares of OptimizeRx by 58.8% in the 4th quarter. Greenwood Capital Associates LLC now owns 54,675 shares of the company’s stock worth $782,000 after buying an additional 20,245 shares during the period. Barclays PLC grew its position in shares of OptimizeRx by 688.1% in the 4th quarter. Barclays PLC now owns 22,170 shares of the company’s stock worth $317,000 after buying an additional 19,357 shares during the period. Nuveen Asset Management LLC grew its position in shares of OptimizeRx by 25.2% in the 4th quarter. Nuveen Asset Management LLC now owns 44,035 shares of the company’s stock worth $630,000 after buying an additional 8,857 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of OptimizeRx in the 4th quarter worth about $286,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, provides various solutions to life sciences organizations, healthcare providers (HCPs), and patients. Its products and applications include Evidence-Based Physician Engagement solution to assist HCPs in identifying patients who may be qualified for specific therapies, raise awareness of patient access pathways, and identify early indicators of non-adherence among patient populations; and Point of Care Banner messaging solution to deliver a variety of awareness and messaging within the clinical workflow.