Essex Investment Management Co. LLC Purchases 72,672 Shares of OptimizeRx Co. (NASDAQ:OPRX)

Essex Investment Management Co. LLC increased its position in OptimizeRx Co. (NASDAQ:OPRX) by 42.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,025 shares of the company’s stock after purchasing an additional 72,672 shares during the quarter. Essex Investment Management Co. LLC owned approximately 1.32% of OptimizeRx worth $1,868,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in shares of OptimizeRx during the second quarter worth approximately $282,000. First Light Asset Management LLC grew its holdings in OptimizeRx by 5.1% during the 2nd quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock worth $18,270,000 after acquiring an additional 89,377 shares during the period. Marshall Wace LLP bought a new stake in shares of OptimizeRx during the 2nd quarter valued at $457,000. Connors Investor Services Inc. lifted its stake in shares of OptimizeRx by 15.1% in the 2nd quarter. Connors Investor Services Inc. now owns 19,107 shares of the company’s stock valued at $191,000 after purchasing an additional 2,500 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of OptimizeRx by 101.8% in the 2nd quarter. Renaissance Technologies LLC now owns 142,146 shares of the company’s stock worth $1,421,000 after purchasing an additional 71,700 shares during the last quarter. 76.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $16.00 target price on shares of OptimizeRx in a research note on Friday, June 21st. B. Riley assumed coverage on shares of OptimizeRx in a research note on Thursday, July 25th. They set a “buy” rating and a $18.50 price objective on the stock. Barclays decreased their price objective on shares of OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, August 12th. Finally, Royal Bank of Canada decreased their price target on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

OptimizeRx Stock Up 0.9 %

Shares of OptimizeRx stock traded up $0.06 on Friday, hitting $6.63. The company had a trading volume of 104,279 shares, compared to its average volume of 126,445. The stock has a 50-day moving average of $7.89 and a 200-day moving average of $9.82. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.07 and a quick ratio of 3.07. OptimizeRx Co. has a twelve month low of $6.30 and a twelve month high of $16.65. The firm has a market capitalization of $121.46 million, a P/E ratio of -6.63 and a beta of 1.27.

OptimizeRx (NASDAQ:OPRX) last announced its earnings results on Thursday, August 8th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. OptimizeRx had a negative net margin of 21.53% and a negative return on equity of 5.97%. The firm had revenue of $18.81 million during the quarter, compared to analyst estimates of $20.47 million. Research analysts predict that OptimizeRx Co. will post -0.33 earnings per share for the current year.

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.