OptimizeRx Co. (NASDAQ:OPRX) Director Buys $2,442,700.80 in Stock

OptimizeRx Co. (NASDAQ:OPRX) Director James Paul Lang bought 321,408 shares of the stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $7.60 per share, for a total transaction of $2,442,700.80. Following the completion of the purchase, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

OptimizeRx Stock Down 1.8 %

OPRX stock opened at $8.63 on Friday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $158.97 million, a PE ratio of -6.49 and a beta of 1.31. OptimizeRx Co. has a twelve month low of $3.78 and a twelve month high of $14.13. The stock has a 50-day simple moving average of $5.84 and a two-hundred day simple moving average of $5.94.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OPRX. B. Riley upgraded OptimizeRx to a “strong-buy” rating in a research note on Wednesday, March 12th. Stephens began coverage on OptimizeRx in a research note on Friday, December 20th. They issued an “equal weight” rating and a $5.50 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price objective (down from $7.00) on shares of OptimizeRx in a research note on Wednesday, January 8th. Lake Street Capital restated a “buy” rating and issued a $11.00 price objective on shares of OptimizeRx in a research note on Tuesday, December 24th. Finally, JMP Securities restated a “market outperform” rating and issued a $8.00 price objective on shares of OptimizeRx in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, OptimizeRx currently has a consensus rating of “Moderate Buy” and an average target price of $9.06.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OPRX. BNP Paribas Financial Markets grew its holdings in shares of OptimizeRx by 189.2% during the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after purchasing an additional 2,414 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of OptimizeRx by 33.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company’s stock worth $54,000 after purchasing an additional 2,797 shares during the last quarter. Barclays PLC increased its position in shares of OptimizeRx by 13.5% in the fourth quarter. Barclays PLC now owns 30,574 shares of the company’s stock worth $148,000 after purchasing an additional 3,640 shares during the last quarter. Perkins Capital Management Inc. increased its position in shares of OptimizeRx by 4.4% in the fourth quarter. Perkins Capital Management Inc. now owns 105,813 shares of the company’s stock worth $514,000 after purchasing an additional 4,450 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of OptimizeRx by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 400,621 shares of the company’s stock worth $1,948,000 after purchasing an additional 4,821 shares during the last quarter. 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.