RBC Capital downgraded OptimizeRx (OPRX) to Sector Perform from Outperform with a price target of $6, down from $7. The firm believes OptimizeRx remains well positioned to benefit over the longer term as an increasing proportion of pharma sales and marketing budgets shift into digital channels. However, in the nearer term, RBC sees the ongoing transition taking place in its direct-to-consumer business acting as a “meaningful headwind” to revenue growth in 2025. It also believes the stock and its valuation will remain range-bound until growth in its legacy provider business becomes more evident.
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Read More on OPRX:
- OptimizeRx price target lowered to $13 from $17 at B. Riley
- Lake Street reiterates Buy on OptimizeRx after ‘surprising’ CEO departure
- OptimizeRx affirms FY24 guidance, sees revenue, adjusted EBITDA at higher end
- OptimizeRx announces departure of CEO Febbo, appoint Silvestro as interim CEO
- OptimizeRx initiated with an Equal Weight at Stephens
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
