JMP Securities Begins Coverage on OptimizeRx (NASDAQ:OPRX)

JMP Securities began coverage on shares of OptimizeRx (NASDAQ:OPRX) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set a “mkt outperform” rating and a $15.00 price target on the stock. JMP Securities’ price objective points to a potential upside of 30.21% from the company’s previous close.

Several other brokerages have also recently weighed in on OPRX. Barclays assumed coverage on OptimizeRx in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $15.00 price objective for the company. Stifel Nicolaus restated a “buy” rating and set a $13.00 target price on shares of OptimizeRx in a research report on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price target on shares of OptimizeRx in a report on Monday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.86.

OptimizeRx Price Performance

Shares of OPRX stock traded up $0.35 during trading hours on Thursday, hitting $11.52. 12,072 shares of the company’s stock were exchanged, compared to its average volume of 119,151. The stock’s 50-day moving average is $14.26 and its 200-day moving average is $11.75. The stock has a market cap of $209.09 million, a price-to-earnings ratio of -13.96 and a beta of 0.98. OptimizeRx has a 52 week low of $6.92 and a 52 week high of $16.65.

Insider Buying and Selling

In other OptimizeRx news, General Counsel Marion Odence-Ford sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $15.19, for a total transaction of $60,760.00. Following the sale, the general counsel now directly owns 11,114 shares of the company’s stock, valued at $168,821.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by insiders.

Institutional Trading of OptimizeRx

Institutional investors and hedge funds have recently modified their holdings of the stock. Kennedy Capital Management LLC acquired a new position in shares of OptimizeRx in the third quarter worth about $4,323,000. Jacob Asset Management of New York LLC raised its holdings in OptimizeRx by 30.1% in the 3rd quarter. Jacob Asset Management of New York LLC now owns 370,330 shares of the company’s stock valued at $2,881,000 after acquiring an additional 85,720 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of OptimizeRx in the 3rd quarter valued at approximately $162,000. Quantbot Technologies LP purchased a new stake in shares of OptimizeRx in the 3rd quarter valued at approximately $49,000. Finally, AWM Investment Company Inc. grew its stake in shares of OptimizeRx by 75.8% in the 3rd quarter. AWM Investment Company Inc. now owns 782,571 shares of the company’s stock valued at $6,088,000 after buying an additional 337,303 shares during the period. Institutional investors own 76.47% of the company’s stock.

OptimizeRx Company Profile

OptimizeRx Corporation, a digital health technology company, provides various solutions to life sciences organizations, healthcare providers (HCPs), and patients. Its products and applications include Evidence-Based Physician Engagement solution to assist HCPs in identifying patients who may be qualified for specific therapies, raise awareness of patient access pathways, and identify early indicators of non-adherence among patient populations; and Point of Care Banner messaging solution to deliver a variety of awareness and messaging within the clinical workflow.