OptimizeRx (NASDAQ:OPRX) Coverage Initiated by Analysts at B. Riley Financial

Key Points

• B. Riley Financial initiated coverage of OptimizeRx with a “buy” rating and an $11 price target, implying approximately 35% upside from the prior close. The analyst view adds to a consensus “Moderate Buy” rating with an average target of $11.57.
• OptimizeRx reported quarterly EPS of $0.16, exceeding estimates of $0.11, while revenue of $20.5 million also topped expectations. Analysts forecast full-year EPS of $0.51.
• Shares rose 1% to $8.12, while institutional investors own 76.47% of the company; several hedge funds recently initiated or increased positions.

Analysts at B. Riley Financial initiated coverage on shares of OptimizeRx (NASDAQ:OPRX - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a "buy" rating and a $11.00 price target on the stock. B. Riley Financial's price objective would suggest a potential upside of 35.42% from the stock's previous close.

OPRX has been the topic of a number of other research reports. Citigroup reissued a "market outperform" rating on shares of OptimizeRx in a research note on Friday, August 14th. Citizens Jmp upped their price objective on OptimizeRx from $9.00 to $11.00 and gave the stock a "market outperform" rating in a report on Friday, August 14th. Stifel Nicolaus set a $12.00 price target on shares of OptimizeRx in a report on Thursday, August 13th. UBS Group set a $11.00 target price on shares of OptimizeRx in a research note on Friday, August 14th. Finally, Wall Street Zen lowered OptimizeRx from a "strong-buy" rating to a "buy" rating in a report on Monday, July 20th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.57.

OptimizeRx Trading Up 1.0%

Shares of NASDAQ:OPRX traded up $0.08 during mid-day trading on Tuesday, reaching $8.12. 2,415 shares of the company were exchanged, compared to its average volume of 384,116. The firm's 50-day simple moving average is $7.40 and its 200 day simple moving average is $6.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.58 and a quick ratio of 5.58. OptimizeRx has a 1 year low of $4.54 and a 1 year high of $22.25. The firm has a market cap of $153.04 million, a price-to-earnings ratio of 35.11 and a beta of 1.09.

OptimizeRx (NASDAQ:OPRX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.05. OptimizeRx had a net margin of 4.66% and a return on equity of 9.44%. The company had revenue of $20.50 million during the quarter, compared to the consensus estimate of $20.20 million. Equities research analysts forecast that OptimizeRx will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Corient Private Wealth LP bought a new position in OptimizeRx during the second quarter valued at $77,000. AWM Investment Company Inc. bought a new position in shares of OptimizeRx during the 2nd quarter worth approximately $1,375,000. Bank of New York Mellon Corp purchased a new position in shares of OptimizeRx in the 2nd quarter valued at approximately $370,000. Segall Bryant & Hamill LLC purchased a new position in shares of OptimizeRx in the first quarter worth about $1,185,000. Finally, Quantinno Capital Management LP grew its position in OptimizeRx by 180.1% during the 1st quarter. Quantinno Capital Management LP now owns 49,022 shares of the company's stock worth $308,000 after purchasing an additional 31,518 shares during the period. Institutional investors own 76.47% of the company's stock.

OptimizeRx Company Profile

OptimizeRx Corporation NASDAQ: OPRX is a digital health company that provides technology and data-driven engagement solutions for life sciences companies, healthcare providers and patients. Its platform is designed to support communication across the healthcare journey, helping pharmaceutical and biotechnology companies connect with clinicians and patients through digital channels.

The company's solutions include point-of-care messaging, patient savings and financial assistance programs, medication adherence and support services, and analytics and audience-engagement tools.

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