First Light Asset Management LLC Raises Holdings in OptimizeRx Co. (NASDAQ:OPRX)

First Light Asset Management LLC increased its position in OptimizeRx Co. (NASDAQ:OPRX - Free Report) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,826,961 shares of the company's stock after purchasing an additional 89,377 shares during the quarter. OptimizeRx makes up about 1.6% of First Light Asset Management LLC's investment portfolio, making the stock its 28th largest holding. First Light Asset Management LLC owned about 10.00% of OptimizeRx worth $18,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Millrace Asset Group Inc. bought a new stake in shares of OptimizeRx during the 4th quarter valued at $1,917,000. G2 Investment Partners Management LLC increased its position in OptimizeRx by 26.0% during the 4th quarter. G2 Investment Partners Management LLC now owns 468,120 shares of the company's stock valued at $6,699,000 after buying an additional 96,646 shares in the last quarter. Rice Hall James & Associates LLC increased its position in OptimizeRx by 23.5% during the 2nd quarter. Rice Hall James & Associates LLC now owns 496,135 shares of the company's stock valued at $4,961,000 after buying an additional 94,253 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in OptimizeRx in the first quarter worth $1,053,000. Finally, Renaissance Technologies LLC raised its position in shares of OptimizeRx by 101.8% in the 2nd quarter. Renaissance Technologies LLC now owns 142,146 shares of the company's stock worth $1,421,000 after purchasing an additional 71,700 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. B. Riley began coverage on shares of OptimizeRx in a research report on Thursday, July 25th. They set a "buy" rating and a $18.50 price objective on the stock. Royal Bank of Canada lowered their price objective on OptimizeRx from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Friday, August 16th. JMP Securities reissued a "market outperform" rating and issued a $16.00 target price on shares of OptimizeRx in a report on Friday, June 21st. Finally, Barclays lowered their price target on OptimizeRx from $15.00 to $11.00 and set an "equal weight" rating on the stock in a report on Monday, August 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, OptimizeRx has a consensus rating of "Moderate Buy" and a consensus target price of $14.50.

OptimizeRx Stock Performance

Shares of NASDAQ:OPRX traded down $0.62 during trading on Tuesday, hitting $7.54. The company's stock had a trading volume of 129,743 shares, compared to its average volume of 125,826. The company has a 50-day moving average of $8.72 and a 200-day moving average of $10.30. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07. The firm has a market cap of $137.76 million, a price-to-earnings ratio of -7.39 and a beta of 1.27. OptimizeRx Co. has a 12 month low of $6.92 and a 12 month high of $16.65.

OptimizeRx (NASDAQ:OPRX - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. The business had revenue of $18.81 million for the quarter, compared to analysts' expectations of $20.47 million. OptimizeRx had a negative net margin of 21.53% and a negative return on equity of 5.97%. On average, sell-side analysts expect that OptimizeRx Co. will post -0.33 earnings per share for the current year.

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.