Zacks: OptimizeRx Co. (NASDAQ:OPRX) Receives Average Rating of “Strong Buy” from Analysts

Shares of OptimizeRx Co. (NASDAQ:OPRX) have received a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a strong buy rating.

Brokers have set a 12 month consensus target price of $28.00 for the company and are predicting that the company will post $0.10 earnings per share for the current quarter, according to Zacks. Zacks has also assigned OptimizeRx an industry rank of 61 out of 255 based on the ratings given to related companies.

Several research analysts have recently weighed in on OPRX shares. ValuEngine cut shares of OptimizeRx from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 7th. Zacks Investment Research cut shares of OptimizeRx from a “buy” rating to a “hold” rating in a research report on Wednesday.

Shares of OPRX stock opened at $13.34 on Monday. The company’s 50-day moving average price is $15.22 and its 200-day moving average price is $14.37. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.01. The stock has a market cap of $186.32 million, a price-to-earnings ratio of 263.20, a PEG ratio of 1.50 and a beta of 0.39. OptimizeRx has a twelve month low of $8.92 and a twelve month high of $18.00.

OptimizeRx (NASDAQ:OPRX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. The firm had revenue of $7.01 million for the quarter, compared to analysts’ expectations of $6.78 million. OptimizeRx had a net margin of 2.27% and a return on equity of 2.89%. As a group, equities research analysts predict that OptimizeRx will post 0.22 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Park West Asset Management LLC boosted its position in shares of OptimizeRx by 14.0% during the 2nd quarter. Park West Asset Management LLC now owns 1,088,088 shares of the company’s stock valued at $17,627,000 after acquiring an additional 133,238 shares during the last quarter. Marshall Wace LLP raised its holdings in OptimizeRx by 62.6% in the 2nd quarter. Marshall Wace LLP now owns 94,769 shares of the company’s stock valued at $1,535,000 after buying an additional 36,475 shares during the period. Vanguard Group Inc. raised its holdings in OptimizeRx by 22.2% in the 2nd quarter. Vanguard Group Inc. now owns 511,060 shares of the company’s stock valued at $8,279,000 after buying an additional 93,015 shares during the period. Venator Capital Management Ltd. raised its holdings in OptimizeRx by 2.6% in the 2nd quarter. Venator Capital Management Ltd. now owns 214,000 shares of the company’s stock valued at $3,467,000 after buying an additional 5,521 shares during the period. Finally, BlackRock Inc. raised its holdings in OptimizeRx by 2,111.6% in the 2nd quarter. BlackRock Inc. now owns 607,292 shares of the company’s stock valued at $9,839,000 after buying an additional 579,833 shares during the period. 56.07% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: Why do companies issue monthly dividends?

Get a free copy of the Zacks research report on OptimizeRx (OPRX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for OptimizeRx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OptimizeRx and related companies with MarketBeat.com's FREE daily email newsletter.