OptimizeRx (NASDAQ:OPRX) Now Covered by Analysts at B. Riley

B. Riley assumed coverage on shares of OptimizeRx (NASDAQ:OPRX) in a research report released on Thursday morning, StockNewsAPI reports. The firm issued a buy rating and a $18.50 target price on the stock. B. Riley also issued estimates for OptimizeRx’s Q2 2024 earnings at ($0.26) EPS.

Other research analysts have also issued reports about the company. JMP Securities reissued a market outperform rating and set a $16.00 price target on shares of OptimizeRx in a research report on Friday, June 21st. Stifel Nicolaus reissued a buy rating and issued a $13.00 price target on shares of OptimizeRx in a research report on Wednesday, May 15th. Finally, Royal Bank of Canada reaffirmed an outperform rating and set a $17.00 price objective on shares of OptimizeRx in a research report on Monday, April 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $16.07.

OptimizeRx Stock Performance

OptimizeRx stock opened at $10.70 on Thursday. OptimizeRx has a fifty-two week low of $6.92 and a fifty-two week high of $16.65. The firm’s 50 day simple moving average is $10.95 and its 200-day simple moving average is $12.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.88 and a quick ratio of 2.88. The company has a market cap of $195.49 million, a P/E ratio of -10.49 and a beta of 1.26.

OptimizeRx (NASDAQ:OPRX) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.16). OptimizeRx had a negative return on equity of 6.96% and a negative net margin of 23.10%. The firm had revenue of $19.69 million for the quarter, compared to analysts’ expectations of $18.66 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. As a group, equities research analysts predict that OptimizeRx will post -0.46 EPS for the current year.

Institutional Investors Weigh In On OptimizeRx

Several institutional investors have recently made changes to their positions in OPRX. G2 Investment Partners Management LLC raised its position in OptimizeRx by 26.0% during the fourth quarter. G2 Investment Partners Management LLC now owns 468,120 shares of the company’s stock valued at $6,699,000 after acquiring an additional 96,646 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of OptimizeRx during the 1st quarter worth $1,053,000. Millrace Asset Group Inc. bought a new position in shares of OptimizeRx during the 4th quarter valued at $1,917,000. Tower Research Capital LLC TRC lifted its stake in shares of OptimizeRx by 407.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,765 shares of the company’s stock valued at $97,000 after purchasing an additional 5,432 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of OptimizeRx by 215.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,142 shares of the company’s stock valued at $31,000 after purchasing an additional 1,462 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

OptimizeRx Company Profile

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.