OptimizeRx (NASDAQ:OPRX) had its price objective lifted by Roth Capital from $30.00 to $40.00 in a research report released on Monday morning, The Fly reports. They currently have a buy rating on the stock.
OPRX has been the subject of several other research reports. BidaskClub upgraded OptimizeRx from a hold rating to a buy rating in a research note on Saturday, August 22nd. Zacks Investment Research upgraded OptimizeRx from a hold rating to a buy rating and set a $19.00 target price for the company in a research note on Thursday, August 13th. Lake Street Capital boosted their target price on OptimizeRx from $17.00 to $20.00 and gave the stock a buy rating in a research note on Thursday, August 6th. They noted that the move was a valuation call. TheStreet upgraded OptimizeRx from a d+ rating to a c- rating in a research note on Tuesday, June 16th. Finally, B. Riley boosted their target price on OptimizeRx from $22.00 to $28.00 in a research note on Thursday, August 6th. Seven equities research analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and a consensus target price of $26.75.
Shares of OptimizeRx stock opened at $20.21 on Monday. OptimizeRx has a one year low of $6.50 and a one year high of $20.86. The company has a market cap of $299.45 million, a PE ratio of -43.00 and a beta of 0.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.27 and a current ratio of 2.27. The business has a 50-day simple moving average of $17.58 and a 200-day simple moving average of $12.42.
OptimizeRx (NASDAQ:OPRX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.05. OptimizeRx had a negative return on equity of 14.44% and a negative net margin of 23.79%. The business had revenue of $8.78 million during the quarter, compared to the consensus estimate of $8.02 million. On average, sell-side analysts predict that OptimizeRx will post -0.17 earnings per share for the current fiscal year.
In related news, Director Gregory D. Wasson purchased 15,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $17.49 per share, for a total transaction of $262,350.00. Following the completion of the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at $262,350. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Douglas P. Baker sold 6,667 shares of the company’s stock in a transaction that occurred on Thursday, July 16th. The stock was sold at an average price of $15.00, for a total value of $100,005.00. Following the sale, the chief financial officer now owns 82,671 shares of the company’s stock, valued at approximately $1,240,065. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,667 shares of company stock valued at $650,105. 8.40% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. raised its stake in shares of OptimizeRx by 7.8% during the second quarter. American International Group Inc. now owns 8,808 shares of the company’s stock worth $115,000 after purchasing an additional 640 shares during the last quarter. Bank of America Corp DE grew its holdings in OptimizeRx by 7.5% during the second quarter. Bank of America Corp DE now owns 28,613 shares of the company’s stock worth $373,000 after acquiring an additional 1,991 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in OptimizeRx by 6.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,060 shares of the company’s stock worth $444,000 after acquiring an additional 2,060 shares during the period. BNP Paribas Arbitrage SA grew its holdings in OptimizeRx by 115.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,279 shares of the company’s stock worth $39,000 after acquiring an additional 2,290 shares during the period. Finally, Bessemer Group Inc. acquired a new position in OptimizeRx during the second quarter worth $35,000. Institutional investors and hedge funds own 58.28% of the company’s stock.
OptimizeRx Corporation provides digital health messaging services for pharmaceutical companies to communicate with healthcare providers. The company's cloud-based solutions support patient adherence to medications by providing real-time access to financial assistance, prior authorization, education, and critical clinical information; and network consists of electronic health records platforms, which provide the ambulatory patient market with access to their workflow at the point-of-care.
Recommended Story: Calculating net profit and net profit margin ratio
Receive News & Ratings for OptimizeRx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OptimizeRx and related companies with MarketBeat.com's FREE daily email newsletter.