OptimizeRx (NASDAQ:OPRX) Stock Price Breaks Below 50 Day Moving Average on Analyst Downgrade

Key Points

• OptimizeRx shares fell below their 50-day moving average after Lake Street Capital cut its price target from $11 to $10 while maintaining a Buy rating; shares traded as low as $7.22 and last changed hands at $7.34.
• Analyst sentiment remains broadly positive: six analysts rate the stock Buy, two Hold and one Sell, giving it a Moderate Buy consensus and an average price target of $11.21.
• The company beat quarterly expectations, reporting EPS of $0.20 versus $0.16 expected and revenue of $21.61 million versus estimates of $21.19 million.

OptimizeRx Corp. (NASDAQ:OPRX - Get Free Report) shares passed below its fifty day moving average during trading on Friday after Lake Street Capital lowered their price target on the stock from $11.00 to $10.00. The stock has a fifty day moving average of $8.43 and traded as low as $7.22. Lake Street Capital currently has a buy rating on the stock. OptimizeRx shares last traded at $7.34, with a volume of 611,439 shares changing hands.

Several other equities analysts have also commented on the stock. Weiss Ratings raised shares of OptimizeRx from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 25th. Wall Street Zen downgraded shares of OptimizeRx from a "strong-buy" rating to a "buy" rating in a report on Monday, July 20th. Stifel Nicolaus cut their price objective on OptimizeRx from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Thursday. UBS Group set a $11.00 target price on shares of OptimizeRx in a research report on Friday, August 14th. Finally, B. Riley Financial reissued a "buy" rating and set a $10.50 price objective (down from $11.00) on shares of OptimizeRx in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $11.21.

Institutional Trading of OptimizeRx

Institutional investors and hedge funds have recently modified their holdings of the company. Royce & Associates LP lifted its stake in shares of OptimizeRx by 20.7% during the 3rd quarter. Royce & Associates LP now owns 1,315,057 shares of the company's stock worth $10,981,000 after acquiring an additional 225,659 shares during the last quarter. Rice Hall James & Associates LLC grew its position in OptimizeRx by 1.9% in the 1st quarter. Rice Hall James & Associates LLC now owns 601,921 shares of the company's stock valued at $3,780,000 after acquiring an additional 11,247 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in OptimizeRx by 22.3% in the first quarter. Dimensional Fund Advisors LP now owns 563,570 shares of the company's stock worth $3,540,000 after purchasing an additional 102,661 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in shares of OptimizeRx during the third quarter valued at $1,670,000. Finally, AWM Investment Company Inc. bought a new position in shares of OptimizeRx in the second quarter worth about $1,375,000. 76.47% of the stock is currently owned by institutional investors.

OptimizeRx Stock Down 17.2%

The company's 50 day moving average is $8.43 and its 200 day moving average is $7.20. The company has a market cap of $138.29 million, a PE ratio of 29.36 and a beta of 1.20. The company has a current ratio of 5.06, a quick ratio of 5.58 and a debt-to-equity ratio of 0.09.

OptimizeRx (NASDAQ:OPRX - Get Free Report) last posted its earnings results on Friday, November 13th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.04. OptimizeRx had a return on equity of 9.58% and a net margin of 5.33%. The company had revenue of $21.61 million during the quarter, compared to analyst estimates of $21.19 million. As a group, analysts predict that OptimizeRx Corp. will post 0.49 earnings per share for the current fiscal year.

OptimizeRx Company Profile

OptimizeRx is a healthcare technology company that connects life sciences companies with healthcare professionals and patients through digital communications. Its platform uses channels such as electronic health records and other clinical workflows to deliver relevant information at the point of care. The company's services support programs for medication access and affordability, patient education and engagement, and communication between healthcare providers and life sciences organizations. OptimizeRx also provides tools intended to help life sciences companies reach clinicians and patients through digital channels.

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