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

OptimizeRx Co. (NASDAQ:OPRX) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.06.

Several equities analysts recently commented on OPRX shares. Lake Street Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of OptimizeRx in a research report on Tuesday, December 24th. B. Riley upgraded shares of OptimizeRx to a “strong-buy” rating in a research note on Wednesday, March 12th. Stephens began coverage on OptimizeRx in a research report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price (down previously from $7.00) on shares of OptimizeRx in a research note on Wednesday, January 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $8.00 price target on shares of OptimizeRx in a research note on Thursday, February 6th.

Insider Buying and Selling

In other news, Director James Paul Lang purchased 321,408 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $7.60 per share, for a total transaction of $2,442,700.80. Following the completion of the transaction, the director now owns 389,452 shares of the company’s stock, valued at $2,959,835.20. This trade represents a 472.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On OptimizeRx

A number of hedge funds have recently modified their holdings of OPRX. SBI Securities Co. Ltd. purchased a new position in OptimizeRx in the 4th quarter worth approximately $25,000. BNP Paribas Financial Markets lifted its position in OptimizeRx by 189.2% during the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after buying an additional 2,414 shares in the last quarter. SG Americas Securities LLC acquired a new position in OptimizeRx during the fourth quarter worth $51,000. Wells Fargo & Company MN grew its holdings in OptimizeRx by 33.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,208 shares of the company’s stock valued at $54,000 after buying an additional 2,797 shares in the last quarter. Finally, Quest Partners LLC increased its stake in shares of OptimizeRx by 15,965.6% in the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after acquiring an additional 9,739 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

OptimizeRx Stock Down 1.8 %

OptimizeRx stock opened at $8.63 on Wednesday. The business has a fifty day moving average price of $5.84 and a 200-day moving average price of $5.92. OptimizeRx has a 1-year low of $3.78 and a 1-year high of $14.13. The stock has a market capitalization of $158.97 million, a price-to-earnings ratio of -6.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23.

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.