B. Riley Financial Begins Coverage on OptimizeRx (NASDAQ:OPRX)

Research analysts at B. Riley Financial initiated coverage on shares of OptimizeRx (NASDAQ:OPRX) in a report released 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 suggests a potential upside of 35.42% from the company’s previous close.

A number of other analysts have also recently weighed in on OPRX. Wall Street Zen cut shares of OptimizeRx from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 20th. Stifel Nicolaus set a $12.00 price objective on OptimizeRx in a research note on Thursday, August 13th. UBS Group set a $11.00 price target on shares of OptimizeRx in a research note on Friday, August 14th. Citigroup reiterated a “market outperform” rating on shares of OptimizeRx in a research note on Friday, August 14th. Finally, Weiss Ratings upgraded OptimizeRx from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 25th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, OptimizeRx currently has an average rating of “Moderate Buy” and a consensus price target of $11.57.

OptimizeRx Stock Performance

OPRX traded up $0.08 during trading on Tuesday, reaching $8.12. The company’s stock had a trading volume of 2,415 shares, compared to its average volume of 384,116. OptimizeRx has a 52-week low of $4.54 and a 52-week high of $22.25. The company has a market capitalization of $153.04 million, a price-to-earnings ratio of 35.11 and a beta of 1.09. The company has a debt-to-equity ratio of 0.14, a quick ratio of 5.58 and a current ratio of 5.58. The company’s fifty day moving average price is $7.40 and its 200-day moving average price is $6.45.

OptimizeRx (NASDAQ:OPRX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $20.50 million for the quarter, compared to analyst estimates of $20.20 million. OptimizeRx had a net margin of 4.66% and a return on equity of 9.44%. On average, equities analysts forecast that OptimizeRx will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OptimizeRx

A number of hedge funds have recently made changes to their positions in OPRX. Rice Hall James & Associates LLC lifted its position in OptimizeRx by 1.9% in the first quarter. Rice Hall James & Associates LLC now owns 601,921 shares of the company’s stock valued at $3,780,000 after purchasing an additional 11,247 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in OptimizeRx by 22.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 563,570 shares of the company’s stock valued at $3,540,000 after purchasing an additional 102,661 shares during the period. Next Century Growth Investors LLC lifted its holdings in OptimizeRx by 139.8% in the 4th quarter. Next Century Growth Investors LLC now owns 505,407 shares of the company’s stock worth $6,196,000 after buying an additional 294,688 shares during the period. AWM Investment Company Inc. bought a new stake in shares of OptimizeRx in the 2nd quarter worth approximately $1,375,000. Finally, Renaissance Technologies LLC increased its stake in shares of OptimizeRx by 633.2% during the first quarter. Renaissance Technologies LLC now owns 216,856 shares of the company’s stock valued at $1,362,000 after buying an additional 187,278 shares during the period. 76.47% of the stock is currently owned by institutional investors.

About OptimizeRx

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.