Insider Buying: OptimizeRx Co. (NASDAQ:OPRX) Director Purchases 321,408 Shares of Stock

OptimizeRx Co. (NASDAQ:OPRX) Director James Paul Lang acquired 321,408 shares of OptimizeRx stock in a transaction on Friday, March 14th. The shares were bought at an average price of $7.60 per share, with a total value of $2,442,700.80. Following the purchase, the director now directly owns 389,452 shares in the company, valued at approximately $2,959,835.20. The trade was a 472.35 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

OptimizeRx Trading Up 2.1 %

OPRX stock opened at $8.79 on Friday. The company has a current ratio of 3.23, a quick ratio of 3.23 and a debt-to-equity ratio of 0.29. OptimizeRx Co. has a 12-month low of $3.78 and a 12-month high of $14.13. The stock has a market cap of $161.92 million, a price-to-earnings ratio of -6.61 and a beta of 1.31. The business’s 50-day moving average is $5.78 and its 200 day moving average is $5.94.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OPRX shares. Stephens started coverage on OptimizeRx in a research note on Friday, December 20th. They set an “equal weight” rating and a $5.50 price objective for the company. JMP Securities reiterated a “market outperform” rating and set a $8.00 price objective on shares of OptimizeRx in a research note on Thursday, February 6th. B. Riley upgraded OptimizeRx to a “strong-buy” rating in a research note on Wednesday, March 12th. Royal Bank of Canada restated 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. Finally, Lake Street Capital restated a “buy” rating and issued a $11.00 price target on shares of OptimizeRx in a research note on Tuesday, December 24th. Three 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.06.

Institutional Investors Weigh In On OptimizeRx

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in OptimizeRx by 189.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after buying an additional 2,414 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in OptimizeRx in the 4th quarter worth about $25,000. Quest Partners LLC boosted its holdings in OptimizeRx by 15,965.6% in the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after buying an additional 9,739 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of OptimizeRx during the 4th quarter worth approximately $51,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of OptimizeRx by 33.3% during the 4th quarter. Wells Fargo & Company MN now owns 11,208 shares of the company’s stock worth $54,000 after purchasing an additional 2,797 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.