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

Shares of OptimizeRx Co. (NASDAQ:OPRX) have earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $9.06.

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

Insider Activity at OptimizeRx

In other news, Director James Paul Lang purchased 321,408 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $7.60 per share, with a total value of $2,442,700.80. Following the transaction, the director now owns 389,452 shares of the company’s stock, valued at $2,959,835.20. This represents a 472.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whetstone Capital Advisors LLC purchased a new position in OptimizeRx during the fourth quarter valued at approximately $6,563,000. Royce & Associates LP purchased a new position in shares of OptimizeRx in the 4th quarter valued at $5,198,000. Tang Capital Management LLC bought a new position in shares of OptimizeRx in the 4th quarter worth $1,075,000. Kennedy Capital Management LLC lifted its stake in shares of OptimizeRx by 57.8% during the 4th quarter. Kennedy Capital Management LLC now owns 594,000 shares of the company’s stock worth $2,887,000 after purchasing an additional 217,676 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in OptimizeRx during the fourth quarter valued at about $673,000. 76.47% of the stock is currently owned by institutional investors.

OptimizeRx Stock Down 1.8 %

NASDAQ OPRX opened at $8.63 on Wednesday. OptimizeRx has a 12 month low of $3.78 and a 12 month high of $14.13. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. The stock has a market cap of $158.97 million, a PE ratio of -6.49 and a beta of 1.31. The stock’s 50 day moving average is $5.84 and its 200 day moving average is $5.92.

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.