221,200 Shares in OptimizeRx Co. (NASDAQ:OPRX) Bought by Tang Capital Management LLC

Tang Capital Management LLC bought a new position in shares of OptimizeRx Co. (NASDAQ:OPRX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 221,200 shares of the company’s stock, valued at approximately $1,075,000. Tang Capital Management LLC owned about 1.20% of OptimizeRx at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in OPRX. SBI Securities Co. Ltd. acquired a new position in OptimizeRx during the fourth quarter worth $25,000. SG Americas Securities LLC acquired a new position in OptimizeRx during the fourth quarter worth $51,000. Wells Fargo & Company MN increased its holdings in OptimizeRx by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company’s stock worth $54,000 after buying an additional 2,797 shares during the last quarter. Graham Capital Management L.P. acquired a new position in OptimizeRx during the fourth quarter worth $81,000. Finally, BNP Paribas Financial Markets increased its holdings in OptimizeRx by 504.6% during the fourth quarter. BNP Paribas Financial Markets now owns 22,308 shares of the company’s stock worth $108,000 after buying an additional 18,618 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James Paul Lang acquired 321,408 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $7.60 per share, with a total value of $2,442,700.80. Following the completion of the transaction, the director now directly owns 389,452 shares of the company’s stock, valued at $2,959,835.20. This trade represents a 472.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.10% of the stock is currently owned by company insiders.

OptimizeRx Trading Up 7.3%

Shares of OptimizeRx stock opened at $11.43 on Friday. The firm has a 50-day moving average of $8.74 and a 200-day moving average of $6.48. The stock has a market cap of $211.37 million, a PE ratio of -8.59 and a beta of 1.28. OptimizeRx Co. has a 52-week low of $3.78 and a 52-week high of $13.33. 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 (NASDAQ:OPRX) last announced its earnings results on Monday, May 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.19. The company had revenue of $21.93 million during the quarter, compared to analysts’ expectations of $18.69 million. OptimizeRx had a negative net margin of 27.41% and a negative return on equity of 4.92%. As a group, sell-side analysts forecast that OptimizeRx Co. will post -0.33 EPS for the current year.

Analyst Upgrades and Downgrades

OPRX has been the topic of several research reports. B. Riley reiterated a “buy” rating on shares of OptimizeRx in a report on Tuesday. Roth Capital reiterated a “buy” rating on shares of OptimizeRx in a report on Tuesday. JMP Securities upped their price objective on shares of OptimizeRx from $11.00 to $14.00 and gave the company a “market outperform” rating in a report on Tuesday, May 13th. Stifel Nicolaus upped their price objective on shares of OptimizeRx from $8.00 to $12.50 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Citigroup reiterated an “outperform” rating on shares of OptimizeRx in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.38.

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.