Zacks Investment Research upgraded shares of OptimizeRx (OTCMKTS:OPRX) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning. They currently have $15.00 price objective on the technology company’s stock.
According to Zacks, “OptimizeRx Corporation provides consumer and physician platforms to help patients better afford and comply with their medicines and healthcare products. It offers pharmaceutical and healthcare companies effective ways to expand patient awareness, access and adherence to their brands. The Company offers marketing and advertising solutions by connecting patients, physicians, and pharmaceutical manufacturers through its consumer Websites. OptimizeRx Corporation is based in Rochester, Michigan. “
A number of other research firms have also recently weighed in on OPRX. Lake Street Capital upped their price target on OptimizeRx to $14.00 and gave the stock a buy rating in a report on Wednesday, August 8th. B. Riley upped their price target on OptimizeRx from $15.00 to $17.00 and gave the stock a buy rating in a report on Wednesday, August 8th. Finally, Roth Capital restated a buy rating on shares of OptimizeRx in a report on Monday, June 18th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. OptimizeRx presently has an average rating of Buy and a consensus price target of $15.33.
Shares of OTCMKTS:OPRX opened at $12.62 on Tuesday. OptimizeRx has a 1 year low of $2.30 and a 1 year high of $12.73. The stock has a market cap of $120.07 million, a PE ratio of -60.10 and a beta of 0.53.
OptimizeRx (OTCMKTS:OPRX) last issued its earnings results on Tuesday, August 7th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.02. OptimizeRx had a negative return on equity of 22.08% and a negative net margin of 10.02%. The business had revenue of $5.10 million during the quarter, compared to analysts’ expectations of $4.34 million. research analysts expect that OptimizeRx will post -0.08 earnings per share for the current fiscal year.
In other OptimizeRx news, insider Douglas P. Baker sold 4,784 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $12.01, for a total value of $57,455.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Miriam J. Paramore bought 5,000 shares of the business’s stock in a transaction on Friday, June 15th. The stock was acquired at an average cost of $8.07 per share, for a total transaction of $40,350.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 7,995 shares of company stock valued at $71,691.
Institutional investors and hedge funds have recently made changes to their positions in the business. Perkins Capital Management Inc. acquired a new position in shares of OptimizeRx in the 2nd quarter valued at approximately $1,634,000. Granite Investment Partners LLC acquired a new position in shares of OptimizeRx in the 2nd quarter valued at approximately $478,000. MAI Capital Management acquired a new position in shares of OptimizeRx in the 2nd quarter valued at approximately $139,000. Family Management Corp acquired a new stake in shares of OptimizeRx during the 2nd quarter valued at approximately $184,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of OptimizeRx during the 2nd quarter valued at approximately $7,745,000. 0.35% of the stock is currently owned by institutional investors.
OptimizeRx Corporation provides digital health messaging to the pharmaceutical industry. The company offers a direct channel for pharmaceutical companies to communicate with healthcare providers. Its products and applications include financial messaging, a virtual patient support center that allows doctors and staff to access sample vouchers, co-pay coupons, and other patient support through their EMR and/or e-Prescribe systems to search, print, or electronically dispense directly to patients, as well as a network of pharmacies; and brand messaging services, such as various brand awareness and clinical messaging services consisting of brand awareness messages, reminder ads, clinical messages, and unbranded messages that could be targeted by specialty, diagnostic code, and other criteria.
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