OptimizeRx (NASDAQ:OPRX) Price Target Raised to $23.00

Key Points

• JMP Securities has raised the price target for OptimizeRx (NASDAQ:OPRX) from $20.00 to $23.00, indicating a potential upside of 25.75% based on the stock's previous close.
• The stock currently has ratings from multiple analysts, with eight rating it a Buy and four a Hold, while the average target price across analysts stands at $13.39.
• OptimizeRx's CEO recently sold 1,620 shares at an average price of $18.75, reducing his overall stake in the company by 0.85%.

OptimizeRx (NASDAQ:OPRX - Get Free Report) had its price target lifted by JMP Securities from $20.00 to $23.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price objective indicates a potential upside of 25.75% from the stock's previous close.

OPRX has been the topic of several other research reports. Roth Capital reissued a "buy" rating on shares of OptimizeRx in a research note on Friday, August 8th. Stifel Nicolaus raised their target price on shares of OptimizeRx from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Zacks Research cut shares of OptimizeRx from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Weiss Ratings reissued a "sell (d-)" rating on shares of OptimizeRx in a research note on Wednesday. Finally, UBS Group set a $23.00 target price on shares of OptimizeRx in a research note on Friday. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $13.39.

OptimizeRx Stock Up 0.3%

OPRX stock opened at $18.29 on Friday. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.21. OptimizeRx has a fifty-two week low of $3.78 and a fifty-two week high of $20.69. The firm's 50-day simple moving average is $17.35 and its 200 day simple moving average is $13.42. The stock has a market cap of $339.55 million, a PE ratio of -33.87 and a beta of 1.25.

Insider Activity

In other news, CEO Stephen L. Silvestro sold 1,620 shares of the firm's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $18.75, for a total transaction of $30,375.00. Following the completion of the transaction, the chief executive officer owned 188,916 shares in the company, valued at approximately $3,542,175. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patrick D. Spangler sold 11,120 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $17.49, for a total transaction of $194,488.80. Following the transaction, the director owned 44,215 shares of the company's stock, valued at approximately $773,320.35. This trade represents a 20.10% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OPRX. Whetstone Capital Advisors LLC increased its position in shares of OptimizeRx by 11.7% in the first quarter. Whetstone Capital Advisors LLC now owns 1,508,303 shares of the company's stock worth $13,062,000 after acquiring an additional 157,880 shares in the last quarter. Blair William & Co. IL increased its position in shares of OptimizeRx by 4.9% in the first quarter. Blair William & Co. IL now owns 631,031 shares of the company's stock worth $5,465,000 after acquiring an additional 29,648 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new position in shares of OptimizeRx in the first quarter worth approximately $4,114,000. Manatuck Hill Partners LLC increased its position in shares of OptimizeRx by 139.5% in the second quarter. Manatuck Hill Partners LLC now owns 455,000 shares of the company's stock worth $6,142,000 after acquiring an additional 265,000 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in shares of OptimizeRx in the first quarter worth approximately $2,542,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.