Tang Capital Management LLC Invests $1.08 Million in OptimizeRx Co. (NASDAQ:OPRX)

Tang Capital Management LLC bought a new stake in OptimizeRx Co. (NASDAQ:OPRX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 221,200 shares of the company's stock, valued at approximately $1,075,000. Tang Capital Management LLC owned about 1.20% of OptimizeRx as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Graham Capital Management L.P. bought a new position in shares of OptimizeRx during the 4th quarter valued at $81,000. D. E. Shaw & Co. Inc. raised its holdings in OptimizeRx by 12.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 295,717 shares of the company's stock valued at $1,437,000 after buying an additional 32,062 shares in the last quarter. Corton Capital Inc. acquired a new stake in shares of OptimizeRx in the fourth quarter worth about $110,000. Bank of America Corp DE lifted its position in shares of OptimizeRx by 54.5% in the fourth quarter. Bank of America Corp DE now owns 73,934 shares of the company's stock worth $359,000 after buying an additional 26,093 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of OptimizeRx by 504.6% during the 4th quarter. BNP Paribas Financial Markets now owns 22,308 shares of the company's stock valued at $108,000 after acquiring an additional 18,618 shares during the last quarter. 76.47% of the stock is owned by institutional investors.

OptimizeRx Stock Performance

Shares of OPRX traded down $0.31 during trading hours on Friday, reaching $11.79. 55,751 shares of the company traded hands, compared to its average volume of 277,714. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.23 and a current ratio of 3.23. The stock's fifty day moving average is $9.10 and its 200 day moving average is $6.66. OptimizeRx Co. has a 1-year low of $3.78 and a 1-year high of $13.19. The stock has a market cap of $217.96 million, a P/E ratio of -8.86 and a beta of 1.28.

OptimizeRx (NASDAQ:OPRX - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.19. OptimizeRx had a negative return on equity of 4.92% and a negative net margin of 27.41%. The firm had revenue of $21.93 million during the quarter, compared to analysts' expectations of $18.69 million. Equities research analysts anticipate that OptimizeRx Co. will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other OptimizeRx news, Director James Paul Lang purchased 321,408 shares of the stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $7.60 per share, with a total value of $2,442,700.80. Following the acquisition, the director now directly owns 389,452 shares of the company's stock, valued at $2,959,835.20. This represents a 472.35% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on OPRX shares. Wall Street Zen upgraded OptimizeRx from a "hold" rating to a "buy" rating in a report on Thursday. B. Riley reissued a "buy" rating on shares of OptimizeRx in a research report on Tuesday, May 13th. JMP Securities upped their price objective on shares of OptimizeRx from $11.00 to $14.00 and gave the stock a "market outperform" rating in a report on Tuesday, May 13th. Roth Capital reiterated a "buy" rating on shares of OptimizeRx in a report on Tuesday, May 13th. Finally, Stifel Nicolaus boosted their target price on shares of OptimizeRx from $8.00 to $12.50 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.38.

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.