Insider Buying: OptimizeRx Co. (NASDAQ:OPRX) Director Acquires 321,408 Shares of Stock

OptimizeRx Co. (NASDAQ:OPRX) Director James Paul Lang acquired 321,408 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average price of $7.60 per share, for a total transaction of $2,442,700.80. Following the completion of the purchase, the director now owns 389,452 shares of the company’s stock, valued at approximately $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 is available through this hyperlink.

OptimizeRx Trading Down 4.5 %

OPRX traded down $0.41 during trading on Wednesday, reaching $8.61. The company had a trading volume of 290,725 shares, compared to its average volume of 253,288. The firm’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $5.92. The company has a market cap of $158.60 million, a price-to-earnings ratio of -6.47 and a beta of 1.31. OptimizeRx Co. has a 12-month low of $3.78 and a 12-month high of $14.13. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23.

Hedge Funds Weigh In On OptimizeRx

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in OptimizeRx by 189.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after acquiring an additional 2,414 shares in the last quarter. Wells Fargo & Company MN grew its stake in OptimizeRx by 33.3% during the 4th quarter. Wells Fargo & Company MN now owns 11,208 shares of the company’s stock valued at $54,000 after acquiring an additional 2,797 shares in the last quarter. Barclays PLC grew its stake in OptimizeRx by 13.5% during the 4th quarter. Barclays PLC now owns 30,574 shares of the company’s stock valued at $148,000 after acquiring an additional 3,640 shares in the last quarter. Perkins Capital Management Inc. grew its stake in OptimizeRx by 4.4% during the 4th quarter. Perkins Capital Management Inc. now owns 105,813 shares of the company’s stock valued at $514,000 after acquiring an additional 4,450 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in OptimizeRx by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 400,621 shares of the company’s stock valued at $1,948,000 after acquiring an additional 4,821 shares in the last quarter. Hedge funds and other institutional investors own 76.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OPRX shares. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective (down from $7.00) on shares of OptimizeRx in a research note on Wednesday, January 8th. Stephens began coverage on shares of OptimizeRx in a research report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 price target on the stock. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of OptimizeRx in a research report on Thursday, February 6th. B. Riley upgraded shares of OptimizeRx to a “strong-buy” rating in a research report on Wednesday, March 12th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 price target on shares of OptimizeRx in a research report on Tuesday, December 24th. Three equities research 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’s stock. According to MarketBeat, OptimizeRx has an average rating of “Moderate Buy” and a consensus price target of $9.06.

OptimizeRx Company Profile

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.