Royce & Associates LP Takes $5.20 Million Position in OptimizeRx Co. (NASDAQ:OPRX)

Royce & Associates LP acquired a new position in OptimizeRx Co. (NASDAQ:OPRX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,069,560 shares of the company’s stock, valued at approximately $5,198,000. Royce & Associates LP owned 5.81% of OptimizeRx as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC grew its holdings in OptimizeRx by 15,965.6% during the 3rd quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after acquiring an additional 9,739 shares during the period. BNP Paribas Financial Markets increased its holdings in OptimizeRx by 189.2% in the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock valued at $28,000 after purchasing an additional 2,414 shares during the last quarter. Barclays PLC lifted its stake in OptimizeRx by 358.5% in the third quarter. Barclays PLC now owns 26,934 shares of the company’s stock valued at $208,000 after buying an additional 21,060 shares during the period. Bullseye Asset Management LLC boosted its holdings in OptimizeRx by 55.6% during the third quarter. Bullseye Asset Management LLC now owns 214,046 shares of the company’s stock worth $1,652,000 after buying an additional 76,458 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of OptimizeRx during the 4th quarter worth about $51,000. 76.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other OptimizeRx news, Director James Paul Lang acquired 321,408 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $7.60 per share, with a total value of $2,442,700.80. Following the completion of the transaction, the director now directly owns 389,452 shares in the company, valued at $2,959,835.20. This trade represents a 472.35 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of OptimizeRx in a research report on Thursday, February 6th. Stephens initiated coverage on shares of OptimizeRx in a report on Friday, December 20th. They issued an “equal weight” rating and a $5.50 price target for the company. B. Riley upgraded OptimizeRx to a “strong-buy” rating in a report on Wednesday, March 12th. Lake Street Capital reissued a “buy” rating and issued a $11.00 target price on shares of OptimizeRx in a research note on Tuesday, December 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective (down previously from $7.00) on shares of OptimizeRx in a report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, OptimizeRx currently has an average rating of “Moderate Buy” and a consensus price target of $9.06.

OptimizeRx Stock Down 4.5 %

NASDAQ:OPRX opened at $8.61 on Thursday. The stock has a 50-day simple moving average of $5.71 and a 200 day simple moving average of $5.92. OptimizeRx Co. has a 52-week low of $3.78 and a 52-week high of $14.13. The company has a market cap of $158.60 million, a PE ratio of -6.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23.

OptimizeRx Company 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.