JMP Securities Raises OptimizeRx (NASDAQ:OPRX) Price Target to $20.00

Key Points

• JMP Securities has raised the price target for OptimizeRx (NASDAQ:OPRX) from $14.00 to $20.00, indicating a potential upside of 15.61% from the current price.
• OptimizeRx reported quarterly earnings of $0.08 per share, surpassing estimates, with revenue of $21.93 million compared to the expected $18.69 million.
• The stock has seen a 34.7% increase and currently holds a market cap of $320.05 million, with institutional investors owning approximately 76.47% of shares.

OptimizeRx (NASDAQ:OPRX - Get Free Report) had its target price hoisted by equities research analysts at JMP Securities from $14.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' price target indicates a potential upside of 15.61% from the stock's current price.

Several other brokerages have also recently issued reports on OPRX. B. Riley reissued a "buy" rating on shares of OptimizeRx in a research note on Tuesday, May 13th. Stifel Nicolaus increased their target price on OptimizeRx from $16.00 to $18.00 and gave the company a "buy" rating in a research report on Friday. Wall Street Zen raised OptimizeRx from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Citigroup reissued an "outperform" rating on shares of OptimizeRx in a research report on Tuesday, May 13th. Finally, Roth Capital reissued a "buy" rating on shares of OptimizeRx in a research report on Friday. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, OptimizeRx currently has an average rating of "Moderate Buy" and an average target price of $11.81.

OptimizeRx Stock Up 34.7%

Shares of NASDAQ:OPRX opened at $17.30 on Monday. OptimizeRx has a 52-week low of $3.78 and a 52-week high of $18.22. The stock has a market cap of $320.05 million, a P/E ratio of -32.04, a price-to-earnings-growth ratio of 5.77 and a beta of 1.33. The business's 50 day moving average is $13.51 and its 200 day moving average is $9.89. The company has a quick ratio of 2.82, a current ratio of 2.57 and a debt-to-equity ratio of 0.21.

OptimizeRx (NASDAQ:OPRX - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.19. OptimizeRx had a positive return on equity of 4.50% and a negative net margin of 9.42%. The company had revenue of $21.93 million for the quarter, compared to analysts' expectations of $18.69 million. Sell-side analysts predict that OptimizeRx will post -0.33 EPS for the current year.

Institutional Trading of OptimizeRx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OPRX. Nisa Investment Advisors LLC lifted its position in OptimizeRx by 600.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,121 shares of the company's stock worth $29,000 after acquiring an additional 1,818 shares during the period. GAMMA Investing LLC purchased a new position in shares of OptimizeRx during the 1st quarter valued at about $33,000. Wells Fargo & Company MN raised its stake in shares of OptimizeRx by 33.3% during the 4th quarter. Wells Fargo & Company MN now owns 11,208 shares of the company's stock valued at $54,000 after buying an additional 2,797 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of OptimizeRx during the 4th quarter valued at about $81,000. Finally, MetLife Investment Management LLC purchased a new position in shares of OptimizeRx during the 1st quarter valued at about $99,000. Institutional investors and hedge funds own 76.47% of the company's stock.

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.

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