Essex Investment Management Co. LLC Has $1.87 Million Position in OptimizeRx Co. (NASDAQ:OPRX)

Essex Investment Management Co. LLC increased its position in OptimizeRx Co. (NASDAQ:OPRX) by 42.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 242,025 shares of the company’s stock after purchasing an additional 72,672 shares during the quarter. Essex Investment Management Co. LLC’s holdings in OptimizeRx were worth $1,868,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Summit Securities Group LLC bought a new stake in OptimizeRx in the 2nd quarter valued at $25,000. Connors Investor Services Inc. grew its position in shares of OptimizeRx by 15.1% during the 2nd quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock worth $191,000 after purchasing an additional 2,500 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of OptimizeRx during the second quarter worth approximately $282,000. Rhumbline Advisers boosted its stake in shares of OptimizeRx by 9.2% in the second quarter. Rhumbline Advisers now owns 31,462 shares of the company’s stock valued at $315,000 after buying an additional 2,658 shares during the period. Finally, BNP Paribas Financial Markets grew its position in OptimizeRx by 283.6% during the first quarter. BNP Paribas Financial Markets now owns 27,910 shares of the company’s stock worth $339,000 after buying an additional 20,634 shares in the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

OptimizeRx Price Performance

OPRX stock traded up $0.06 during trading on Friday, reaching $6.63. 104,279 shares of the company were exchanged, compared to its average volume of 126,445. OptimizeRx Co. has a twelve month low of $6.30 and a twelve month high of $16.65. 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 company has a market capitalization of $121.46 million, a price-to-earnings ratio of -6.63 and a beta of 1.27. The company has a 50-day moving average of $7.89 and a two-hundred day moving average of $9.82.

OptimizeRx (NASDAQ:OPRX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. OptimizeRx had a negative net margin of 21.53% and a negative return on equity of 5.97%. The business had revenue of $18.81 million during the quarter, compared to analyst estimates of $20.47 million. As a group, equities analysts predict that OptimizeRx Co. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price target on shares of OptimizeRx in a research note on Friday, June 21st. B. Riley assumed coverage on shares of OptimizeRx in a report on Thursday, July 25th. They set a “buy” rating and a $18.50 price target for the company. Barclays decreased their price objective on shares of OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, August 12th. Finally, Royal Bank of Canada cut their target price on OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.50.

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.