Insider Buying: OptimizeRx Co. (NASDAQ:OPRX) Director Purchases 321,408 Shares of Stock

OptimizeRx Co. (NASDAQ:OPRX) Director James Paul Lang acquired 321,408 shares of the stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $7.60 per share, with a total value of $2,442,700.80. Following the transaction, the director now directly owns 389,452 shares of the company’s stock, valued at $2,959,835.20. This represents a 472.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

OptimizeRx Stock Performance

OptimizeRx stock traded down $0.41 during mid-day trading on Wednesday, reaching $8.61. The company’s stock had a trading volume of 290,725 shares, compared to its average volume of 253,288. The firm has a market cap of $158.60 million, a price-to-earnings ratio of -6.47 and a beta of 1.31. The business has a 50 day moving average price of $5.71 and a 200-day moving average price of $5.92. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. OptimizeRx Co. has a twelve month low of $3.78 and a twelve month high of $14.13.

Analyst Ratings Changes

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

Hedge Funds Weigh In On OptimizeRx

A number of hedge funds have recently added to or reduced their stakes in the business. Whetstone Capital Advisors LLC bought a new stake in OptimizeRx in the fourth quarter valued at $6,563,000. Royce & Associates LP bought a new stake in OptimizeRx in the fourth quarter valued at $5,198,000. Kennedy Capital Management LLC lifted its stake in OptimizeRx by 57.8% in the fourth quarter. Kennedy Capital Management LLC now owns 594,000 shares of the company’s stock valued at $2,887,000 after buying an additional 217,676 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in OptimizeRx by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 444,167 shares of the company’s stock valued at $2,159,000 after buying an additional 39,740 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in OptimizeRx by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 400,621 shares of the company’s stock valued at $1,948,000 after buying an additional 4,821 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company’s stock.

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.