OptimizeRx (NASDAQ:OPRX) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of OptimizeRx (NASDAQ:OPRX) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $16.00 price objective on the 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. “

Shares of NASDAQ OPRX traded down $0.16 during trading on Wednesday, reaching $14.72. The company had a trading volume of 1,314 shares, compared to its average volume of 79,424. The company has a fifty day simple moving average of $15.25. OptimizeRx has a 12 month low of $8.92 and a 12 month high of $18.39. The company has a market cap of $204.71 million, a PE ratio of 297.80, a P/E/G ratio of 1.65 and a beta of 0.44. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.01.

OptimizeRx (NASDAQ:OPRX) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. OptimizeRx had a return on equity of 2.89% and a net margin of 2.27%. The firm had revenue of $7.01 million for the quarter, compared to analyst estimates of $6.78 million. As a group, sell-side analysts forecast that OptimizeRx will post 0.22 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Westwood Management Corp IL acquired a new position in shares of OptimizeRx in the 1st quarter valued at about $127,000. BlackRock Inc. acquired a new position in shares of OptimizeRx in the 4th quarter valued at about $55,000. Northern Trust Corp lifted its stake in shares of OptimizeRx by 71.5% in the 4th quarter. Northern Trust Corp now owns 17,474 shares of the company’s stock valued at $192,000 after purchasing an additional 7,283 shares during the period. Taylor Wealth Management Partners lifted its stake in shares of OptimizeRx by 1.7% in the 2nd quarter. Taylor Wealth Management Partners now owns 103,040 shares of the company’s stock valued at $1,669,000 after purchasing an additional 1,760 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of OptimizeRx by 294.7% in the 4th quarter. Geode Capital Management LLC now owns 60,861 shares of the company’s stock valued at $667,000 after purchasing an additional 45,440 shares during the period. Hedge funds and other institutional investors own 49.56% of the company’s stock.

About OptimizeRx

OptimizeRx Corporation provides digital health messaging services for pharmaceutical companies to communicate with healthcare providers. The company's cloud-based solutions support patient adherence to medications by providing real-time access to financial assistance, prior authorization, education, and critical clinical information; and network consists of electronic health records platforms, which provide the ambulatory patient market with access to their workflow at the point-of-care.

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