OptimizeRx (NASDAQ:OPRX) had its price target increased by Lake Street Capital from $26.00 to $40.00 in a research report sent to investors on Thursday morning, The Fly reports.
OPRX has been the subject of a number of other reports. Zacks Investment Research upgraded OptimizeRx from a hold rating to a buy rating and set a $36.00 price objective for the company in a research report on Thursday, December 24th. ValuEngine cut shares of OptimizeRx from a buy rating to a hold rating in a research report on Tuesday, November 17th. BidaskClub downgraded shares of OptimizeRx from a strong-buy rating to a buy rating in a research note on Saturday, November 7th. Roth Capital raised their price objective on shares of OptimizeRx from $40.00 to $70.00 and gave the company a buy rating in a research note on Thursday. Finally, B. Riley upped their target price on shares of OptimizeRx from $34.00 to $50.00 and gave the company a buy rating in a research report on Monday, January 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. OptimizeRx has an average rating of Buy and an average target price of $49.00.
OPRX opened at $37.96 on Thursday. The stock has a market capitalization of $573.54 million, a P/E ratio of -80.76 and a beta of 0.56. The company’s 50 day simple moving average is $28.85 and its 200-day simple moving average is $20.86. OptimizeRx has a one year low of $6.50 and a one year high of $38.50.
OptimizeRx (NASDAQ:OPRX) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $10.52 million for the quarter, compared to analyst estimates of $10.04 million. OptimizeRx had a negative return on equity of 14.44% and a negative net margin of 23.79%. As a group, sell-side analysts anticipate that OptimizeRx will post -0.15 EPS for the current fiscal year.
In other OptimizeRx news, CFO Douglas P. Baker sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $24.05, for a total value of $360,750.00. Following the completion of the sale, the chief financial officer now owns 75,705 shares of the company’s stock, valued at $1,820,705.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.10% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its position in shares of OptimizeRx by 562.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,314 shares of the company’s stock valued at $69,000 after buying an additional 2,814 shares in the last quarter. American International Group Inc. grew its stake in OptimizeRx by 7.8% in the second quarter. American International Group Inc. now owns 8,808 shares of the company’s stock valued at $115,000 after acquiring an additional 640 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of OptimizeRx by 11.9% in the third quarter. JPMorgan Chase & Co. now owns 5,431 shares of the company’s stock worth $115,000 after acquiring an additional 577 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of OptimizeRx during the third quarter worth about $224,000. Finally, GSA Capital Partners LLP bought a new position in shares of OptimizeRx during the 3rd quarter valued at about $323,000. 58.28% of the stock is owned by institutional investors.
About OptimizeRx
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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