OptimizeRx Corp. (NASDAQ:OPRX) Receives $11.81 Average PT from Brokerages

OptimizeRx Corp. (NASDAQ:OPRX) has been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $13.3889.

Several research analysts recently weighed in on the stock. Zacks Research downgraded shares of OptimizeRx from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Stifel Nicolaus upped their price objective on shares of OptimizeRx from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Citigroup reaffirmed an “outperform” rating on shares of OptimizeRx in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OptimizeRx in a research note on Wednesday. Finally, JMP Securities upped their price objective on shares of OptimizeRx from $20.00 to $23.00 and gave the company a “market outperform” rating in a research note on Friday.

OptimizeRx Stock Down 1.1%

OPRX opened at $18.08 on Friday. OptimizeRx has a twelve month low of $3.78 and a twelve month high of $20.69. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $17.46 and a 200 day moving average price of $13.51. The company has a market cap of $335.75 million, a PE ratio of -33.48 and a beta of 1.25.

Insider Activity

In related news, Director Patrick D. Spangler sold 11,120 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $17.49, for a total transaction of $194,488.80. Following the completion of the sale, the director owned 44,215 shares of the company’s stock, valued at approximately $773,320.35. This represents a 20.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen L. Silvestro sold 1,620 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $18.75, for a total transaction of $30,375.00. Following the sale, the chief executive officer directly owned 188,916 shares of the company’s stock, valued at approximately $3,542,175. This represents a 0.85% decrease in their position. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Institutional Trading of OptimizeRx

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its holdings in shares of OptimizeRx by 600.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,121 shares of the company’s stock worth $29,000 after buying an additional 1,818 shares during the last quarter. GAMMA Investing LLC purchased a new position in OptimizeRx in the first quarter worth approximately $33,000. Quantbot Technologies LP purchased a new position in OptimizeRx in the second quarter worth approximately $44,000. BNP Paribas Financial Markets grew its position in OptimizeRx by 119.2% in the second quarter. BNP Paribas Financial Markets now owns 4,074 shares of the company’s stock worth $55,000 after acquiring an additional 2,215 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in OptimizeRx in the first quarter worth approximately $99,000. Hedge funds and other institutional investors own 76.47% of the company’s stock.

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.