Analysts Set OptimizeRx Co. (NASDAQ:OPRX) Target Price at $10.38

OptimizeRx Co. (NASDAQ:OPRX) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $10.38.

A number of analysts have recently weighed in on the stock. Citigroup restated an “outperform” rating on shares of OptimizeRx in a report on Tuesday, May 13th. Wall Street Zen upgraded shares of OptimizeRx from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Stifel Nicolaus lifted their target price on shares of OptimizeRx from $8.00 to $12.50 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. JMP Securities lifted their target price on shares of OptimizeRx from $11.00 to $14.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 13th. Finally, B. Riley reiterated a “buy” rating on shares of OptimizeRx in a research note on Tuesday, May 13th.

OptimizeRx Stock Up 3.1%

NASDAQ:OPRX opened at $14.62 on Monday. OptimizeRx has a fifty-two week low of $3.78 and a fifty-two week high of $15.25. The stock has a market capitalization of $270.40 million, a P/E ratio of -10.99 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. The company’s 50-day simple moving average is $9.98 and its 200-day simple moving average is $7.23.

OptimizeRx (NASDAQ:OPRX) last released its quarterly earnings results on Monday, May 12th. The company reported $0.08 earnings per share for the quarter, beating 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 business had revenue of $21.93 million for the quarter, compared to analysts’ expectations of $18.69 million. On average, equities analysts anticipate that OptimizeRx will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other OptimizeRx news, Director James Paul Lang purchased 321,408 shares of OptimizeRx stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $7.60 per share, with a total value of $2,442,700.80. Following the transaction, the director now owns 389,452 shares of the company’s stock, valued at $2,959,835.20. This represents a 472.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OptimizeRx

A number of institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of OptimizeRx by 9.6% during the 1st quarter. American Century Companies Inc. now owns 15,783 shares of the company’s stock valued at $137,000 after purchasing an additional 1,387 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of OptimizeRx by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 89,538 shares of the company’s stock valued at $775,000 after purchasing an additional 1,826 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of OptimizeRx by 10.5% during the 1st quarter. Rhumbline Advisers now owns 27,785 shares of the company’s stock valued at $241,000 after purchasing an additional 2,636 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of 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 purchasing an additional 2,797 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of 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 purchasing an additional 3,640 shares in the last quarter. 76.47% of the stock is owned by hedge funds and other 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.