Royce & Associates LP Makes New $1.66 Million Investment in OptimizeRx Co. (NASDAQ:OPRX)

Royce & Associates LP purchased a new position in shares of OptimizeRx Co. (NASDAQ:OPRX – Get Rating) in the 1st quarter, Holdings Channel reports. The firm purchased 44,000 shares of the company’s stock, valued at approximately $1,659,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mutual of America Capital Management LLC purchased a new stake in shares of OptimizeRx in the fourth quarter valued at $151,000. Ensign Peak Advisors Inc purchased a new stake in shares of OptimizeRx in the fourth quarter valued at $217,000. Northern Trust Corp grew its position in shares of OptimizeRx by 5.7% in the fourth quarter. Northern Trust Corp now owns 278,974 shares of the company’s stock valued at $17,327,000 after purchasing an additional 14,925 shares during the period. ProShare Advisors LLC purchased a new stake in shares of OptimizeRx in the fourth quarter valued at $269,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of OptimizeRx in the fourth quarter valued at $9,012,000. Hedge funds and other institutional investors own 83.61% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on OPRX. Roth Capital lowered their price objective on OptimizeRx from $112.00 to $66.00 in a research report on Thursday, May 5th. Piper Sandler initiated coverage on OptimizeRx in a report on Friday, July 1st. They issued a “neutral” rating and a $29.00 target price on the stock. Royal Bank of Canada reduced their target price on OptimizeRx from $100.00 to $50.00 in a report on Thursday, May 5th. SVB Leerink initiated coverage on OptimizeRx in a report on Friday, July 15th. They issued an “outperform” rating and a $38.00 target price on the stock. Finally, B. Riley reduced their target price on OptimizeRx from $71.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, OptimizeRx currently has a consensus rating of “Moderate Buy” and an average price target of $52.50.

OptimizeRx Price Performance

Shares of OPRX opened at $24.23 on Friday. The stock’s 50-day moving average is $26.53 and its two-hundred day moving average is $33.62. The stock has a market cap of $439.82 million, a PE ratio of -151.44 and a beta of 0.70. OptimizeRx Co. has a 12 month low of $20.10 and a 12 month high of $99.18.

OptimizeRx (NASDAQ:OPRX – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.10). The company had revenue of $13.73 million for the quarter, compared to analyst estimates of $13.78 million. OptimizeRx had a negative return on equity of 1.76% and a negative net margin of 4.30%. During the same quarter in the prior year, the firm earned ($0.01) EPS. On average, research analysts anticipate that OptimizeRx Co. will post -0.02 earnings per share for the current year.

OptimizeRx Company Profile

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OptimizeRx Corporation, a digital health technology company, provides various solutions to life sciences organizations, healthcare providers, and patients. The company's products and applications include financial messaging, a virtual patient support center that allows doctors and staff to access sample vouchers, co-pay coupons, and other patient support through their EMR and/or e-prescribe systems; and brand awareness and therapeutic support messaging services, such as brand awareness messages, reminder ads, and therapeutic support and unbranded messages.