Rice Hall James & Associates LLC Buys 119,306 Shares of OptimizeRx Co. (NASDAQ:OPRX)

Rice Hall James & Associates LLC increased its stake in shares of OptimizeRx Co. (NASDAQ:OPRX) by 24.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 615,441 shares of the company’s stock after acquiring an additional 119,306 shares during the quarter. Rice Hall James & Associates LLC’s holdings in OptimizeRx were worth $4,751,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. First Light Asset Management LLC raised its stake in OptimizeRx by 5.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,826,961 shares of the company’s stock worth $18,270,000 after purchasing an additional 89,377 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of OptimizeRx in the 1st quarter valued at approximately $1,053,000. Renaissance Technologies LLC increased its position in OptimizeRx by 101.8% during 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 in the last quarter. Marshall Wace LLP acquired a new position in OptimizeRx during the 2nd quarter worth approximately $457,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in OptimizeRx during the 1st quarter worth approximately $542,000. Institutional investors own 76.47% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on OPRX. Royal Bank of Canada reduced their target price on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, August 16th. B. Riley initiated coverage on shares of OptimizeRx in a research note on Thursday, July 25th. They issued a “buy” rating and a $18.50 price objective on the stock. Finally, Barclays dropped their target price on shares of OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, OptimizeRx has an average rating of “Moderate Buy” and a consensus target price of $14.50.

OptimizeRx Stock Performance

OPRX opened at $5.22 on Friday. The firm has a 50-day moving average of $7.18 and a 200 day moving average of $9.30. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.07 and a current ratio of 3.07. OptimizeRx Co. has a fifty-two week low of $5.21 and a fifty-two week high of $16.65.

OptimizeRx (NASDAQ:OPRX) last issued 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. As a group, sell-side analysts forecast that OptimizeRx Co. will post -0.33 EPS for the current fiscal 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.