OptimizeRx (NASDAQ:OPRX) Price Target Raised to $14.00

OptimizeRx (NASDAQ:OPRX) had its price objective hoisted by JMP Securities from $11.00 to $14.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Separately, B. Riley raised shares of OptimizeRx to a “strong-buy” rating in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, OptimizeRx currently has a consensus rating of “Moderate Buy” and an average target price of $10.38.

OptimizeRx Price Performance

NASDAQ OPRX opened at $10.65 on Tuesday. The firm’s 50-day simple moving average is $8.59 and its two-hundred day simple moving average is $6.43. OptimizeRx has a 52 week low of $3.78 and a 52 week high of $13.33. The company has a market cap of $196.95 million, a PE ratio of -8.01 and a beta of 1.28. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.29.

OptimizeRx (NASDAQ:OPRX) last announced its quarterly earnings results on Monday, May 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.19. OptimizeRx had a negative net margin of 27.41% and a negative return on equity of 4.92%. The firm had revenue of $21.93 million for the quarter, compared to the consensus estimate of $18.69 million. Research analysts predict that OptimizeRx will post -0.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James Paul Lang acquired 321,408 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of $7.60 per share, for a total transaction of $2,442,700.80. Following the completion of the transaction, the director now owns 389,452 shares in the company, valued at approximately $2,959,835.20. This trade represents a 472.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OPRX. American Century Companies Inc. grew its position in OptimizeRx by 9.6% during the first quarter. American Century Companies Inc. now owns 15,783 shares of the company’s stock valued at $137,000 after acquiring an additional 1,387 shares during the last quarter. Bank of New York Mellon Corp grew its position in OptimizeRx by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 89,538 shares of the company’s stock valued at $775,000 after acquiring an additional 1,826 shares during the last quarter. Rhumbline Advisers grew its position in OptimizeRx by 10.5% during the first quarter. Rhumbline Advisers now owns 27,785 shares of the company’s stock valued at $241,000 after acquiring an additional 2,636 shares during the last quarter. Wells Fargo & Company MN grew its position in OptimizeRx by 33.3% during the fourth 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 during the last quarter. Finally, Barclays PLC grew its position in OptimizeRx by 13.5% during the fourth quarter. Barclays PLC now owns 30,574 shares of the company’s stock valued at $148,000 after acquiring an additional 3,640 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

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.