OptimizeRx Co. (NASDAQ:OPRX) Receives Average Recommendation of “Moderate Buy” from Analysts

OptimizeRx Co. (NASDAQ:OPRX) has earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.19.

A number of equities research analysts recently commented on the company. B. Riley decreased their price objective on OptimizeRx from $17.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, December 24th. JMP Securities lowered their price target on OptimizeRx from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Thursday, November 14th. Royal Bank of Canada reduced their price objective on shares of OptimizeRx from $14.00 to $7.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th. Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of OptimizeRx in a report on Tuesday, December 24th. Finally, William Blair reissued an “outperform” rating on shares of OptimizeRx in a report on Thursday, November 14th.

Insider Buying and Selling

In other news, CEO William J. Febbo acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of $5.01 per share, for a total transaction of $100,200.00. Following the completion of the acquisition, the chief executive officer now owns 601,253 shares in the company, valued at $3,012,277.53. This represents a 3.44 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OptimizeRx

Several hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC lifted its position in shares of OptimizeRx by 5.1% in the second quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock worth $18,270,000 after purchasing an additional 89,377 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in OptimizeRx by 24.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 615,441 shares of the company’s stock worth $4,751,000 after buying an additional 119,306 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of OptimizeRx by 12.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 324,130 shares of the company’s stock worth $3,241,000 after buying an additional 35,957 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in shares of OptimizeRx by 42.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 242,025 shares of the company’s stock worth $1,868,000 after buying an additional 72,672 shares during the last quarter. Finally, Bullseye Asset Management LLC increased its position in shares of OptimizeRx by 55.6% in the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock valued at $1,652,000 after acquiring an additional 76,458 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

OptimizeRx Price Performance

OPRX opened at $5.82 on Friday. The company has a fifty day moving average price of $5.16 and a two-hundred day moving average price of $7.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. The firm has a market capitalization of $107.21 million, a PE ratio of -4.38 and a beta of 1.36. OptimizeRx has a 52 week low of $3.78 and a 52 week high of $16.65.

About OptimizeRx

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.