Kennedy Capital Management LLC Increases Position in OptimizeRx Co. (NASDAQ:OPRX)

Kennedy Capital Management LLC lifted its position in shares of OptimizeRx Co. (NASDAQ:OPRX - Free Report) by 57.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 594,000 shares of the company's stock after purchasing an additional 217,676 shares during the period. Kennedy Capital Management LLC owned about 3.22% of OptimizeRx worth $2,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new stake in OptimizeRx during the 4th quarter worth approximately $25,000. BNP Paribas Financial Markets grew its position 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 last quarter. SG Americas Securities LLC acquired a new stake in shares of OptimizeRx in the fourth quarter valued at about $51,000. Wells Fargo & Company MN raised its position in shares of OptimizeRx by 33.3% during the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company's stock worth $54,000 after acquiring an additional 2,797 shares during the last quarter. Finally, Barclays PLC raised its position in shares of OptimizeRx by 358.5% during the third quarter. Barclays PLC now owns 26,934 shares of the company's stock worth $208,000 after acquiring an additional 21,060 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

OptimizeRx Stock Up 3.3 %

OptimizeRx stock traded up $0.27 during mid-day trading on Friday, reaching $8.45. The stock had a trading volume of 142,638 shares, compared to its average volume of 269,410. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. OptimizeRx Co. has a fifty-two week low of $3.78 and a fifty-two week high of $14.13. The stock's 50-day simple moving average is $7.14 and its 200-day simple moving average is $6.06. The firm has a market capitalization of $156.24 million, a PE ratio of -6.35 and a beta of 1.18.

Insider Activity at OptimizeRx

In other OptimizeRx news, Director James Paul Lang acquired 321,408 shares of the company's stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $7.60 per share, with a total value of $2,442,700.80. Following the completion of the purchase, the director now owns 389,452 shares of the company's stock, valued at approximately $2,959,835.20. This represents a 472.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

OptimizeRx 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.