OptimizeRx Co. (NASDAQ:OPRX) Director James Paul Lang Purchases 321,408 Shares

OptimizeRx Co. (NASDAQ:OPRX - Get Free Report) Director James Paul Lang acquired 321,408 shares of the stock in a transaction dated Friday, March 14th. The stock was acquired 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 approximately $2,959,835.20. This trade represents a 472.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

OptimizeRx Stock Down 1.8 %

NASDAQ OPRX traded down $0.16 during trading on Friday, hitting $8.63. 340,091 shares of the company traded hands, compared to its average volume of 257,374. The company has a market capitalization of $158.97 million, a P/E ratio of -6.49 and a beta of 1.31. The business has a fifty day simple moving average of $5.84 and a 200 day simple moving average of $5.92. OptimizeRx Co. has a 12 month low of $3.78 and a 12 month high of $14.13. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29.

Analysts Set New Price Targets

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

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Institutional Investors Weigh In On OptimizeRx

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in OptimizeRx by 358.5% during the third quarter. Barclays PLC now owns 26,934 shares of the company's stock valued at $208,000 after purchasing an additional 21,060 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of OptimizeRx by 189.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company's stock valued at $28,000 after buying an additional 2,414 shares during the period. Quest Partners LLC grew its holdings in shares of OptimizeRx by 15,965.6% in the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company's stock valued at $76,000 after buying an additional 9,739 shares during the period. SG Americas Securities LLC acquired a new position in shares of OptimizeRx in the 4th quarter valued at $51,000. Finally, Royce & Associates LP acquired a new position in OptimizeRx in the 4th quarter worth $5,198,000. 76.47% of the stock is owned by institutional investors and hedge funds.

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.