OptimizeRx Co. (NASDAQ:OPRX) rose 5.6% on Tuesday . The stock traded as high as $51.05 and last traded at $51.05. Approximately 3,349 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 301,908 shares. The stock had previously closed at $48.35.
OPRX has been the subject of several research reports. B. Riley increased their target price on shares of OptimizeRx from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 25th. Roth Capital increased their price target on shares of OptimizeRx from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, March 3rd. Lake Street Capital increased their price target on shares of OptimizeRx from $40.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 26th. Finally, Zacks Investment Research lowered shares of OptimizeRx from a “buy” rating to a “hold” rating in a research report on Friday, February 26th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $62.50.
The stock has a market cap of $812.28 million, a price-to-earnings ratio of -127.18 and a beta of 0.82. The company’s 50-day moving average is $51.21 and its 200-day moving average is $35.58.
In other news, CFO Douglas P. Baker sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 13th. The shares were sold at an average price of $38.89, for a total transaction of $194,450.00. Following the sale, the chief financial officer now directly owns 85,937 shares of the company’s stock, valued at $3,342,089.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William J. Febbo sold 80,000 shares of the stock in a transaction that occurred on Thursday, March 25th. The shares were sold at an average price of $46.10, for a total transaction of $3,688,000.00. Following the sale, the chief executive officer now directly owns 273,278 shares in the company, valued at $12,598,115.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,032 shares of company stock valued at $4,120,212. Company insiders own 8.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OPRX. Dimensional Fund Advisors LP bought a new position in OptimizeRx in the fourth quarter valued at approximately $698,000. JPMorgan Chase & Co. boosted its position in shares of OptimizeRx by 21.1% during the fourth quarter. JPMorgan Chase & Co. now owns 6,578 shares of the company’s stock worth $205,000 after purchasing an additional 1,147 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of OptimizeRx by 9.9% during the fourth quarter. Nuveen Asset Management LLC now owns 66,805 shares of the company’s stock worth $2,081,000 after acquiring an additional 6,011 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of OptimizeRx during the fourth quarter worth $461,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of OptimizeRx by 8.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 35,750 shares of the company’s stock worth $1,114,000 after acquiring an additional 2,765 shares during the period. 62.41% of the stock is currently owned by institutional investors and hedge funds.
OptimizeRx Company Profile (NASDAQ:OPRX)
OptimizeRx Corporation operates as a digital health company that facilitates communication at point-of-care among various stakeholders in healthcare. Its cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, and critical clinical information; and network consists of electronic health record company platforms, which provide the ambulatory patient market with access to their workflow at the point-of-care.
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