Brokerages Set OptimizeRx Co. (NASDAQ:OPRX) PT at $9.06

Shares of OptimizeRx Co. (NASDAQ:OPRX) have earned an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $9.06.

A number of research firms recently issued reports on OPRX. B. Riley raised shares of OptimizeRx to a “strong-buy” rating in a research note on Wednesday, March 12th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of OptimizeRx in a research note on Thursday, February 6th.

Insider Buying and Selling

In other news, Director James Paul Lang bought 321,408 shares of the stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $7.60 per share, for a total transaction of $2,442,700.80. Following the acquisition, 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 acquisition 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 insiders.

Institutional Investors Weigh In On OptimizeRx

Institutional investors have recently bought and sold shares of the company. Whetstone Capital Advisors LLC acquired a new stake in OptimizeRx during the 4th quarter valued at approximately $6,563,000. Royce & Associates LP purchased a new position in OptimizeRx in the fourth quarter worth approximately $5,198,000. Tang Capital Management LLC acquired a new stake in shares of OptimizeRx during the fourth quarter valued at about $1,075,000. Kennedy Capital Management LLC lifted its position in shares of OptimizeRx by 57.8% during the fourth 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 in the last quarter. Finally, Walleye Capital LLC purchased a new stake in OptimizeRx during the 4th quarter worth about $673,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

OptimizeRx Stock Performance

NASDAQ:OPRX opened at $10.01 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. OptimizeRx has a fifty-two week low of $3.78 and a fifty-two week high of $14.13. The business has a 50 day moving average price of $8.14 and a 200-day moving average price of $6.31. The firm has a market cap of $185.11 million, a PE ratio of -7.53 and a beta of 1.28.

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.