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

Tang Capital Management LLC bought a new position in shares of OptimizeRx Co. (NASDAQ:OPRX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 221,200 shares of the company's stock, valued at approximately $1,075,000. Tang Capital Management LLC owned approximately 1.20% of OptimizeRx at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of OptimizeRx during the fourth quarter valued at approximately $25,000. SG Americas Securities LLC purchased a new position in OptimizeRx during the fourth quarter valued at $51,000. Wells Fargo & Company MN increased its holdings in OptimizeRx by 33.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,208 shares of the company's stock valued at $54,000 after acquiring an additional 2,797 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in OptimizeRx in the 4th quarter worth $81,000. Finally, BNP Paribas Financial Markets lifted its stake in OptimizeRx by 504.6% in the 4th quarter. BNP Paribas Financial Markets now owns 22,308 shares of the company's stock worth $108,000 after purchasing an additional 18,618 shares in the last quarter. Institutional investors own 76.47% of the company's stock.

OptimizeRx Trading Down 2.8%

Shares of OptimizeRx stock traded down $0.34 during trading on Wednesday, hitting $11.61. The stock had a trading volume of 224,054 shares, compared to its average volume of 277,990. OptimizeRx Co. has a 12 month low of $3.78 and a 12 month high of $13.19. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.23 and a quick ratio of 3.23. The firm's fifty day simple moving average is $8.95 and its 200-day simple moving average is $6.57. The stock has a market cap of $214.73 million, a PE ratio of -8.73 and a beta of 1.28.

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

Wall Street Analyst Weigh In

OPRX has been the topic of several research analyst reports. B. Riley reiterated a "buy" rating on shares of OptimizeRx in a research note on Tuesday, May 13th. JMP Securities boosted their price target on shares of OptimizeRx from $11.00 to $14.00 and gave the stock a "market outperform" rating in a research report on Tuesday, May 13th. Citigroup restated an "outperform" rating on shares of OptimizeRx in a research report on Tuesday, May 13th. Roth Capital restated a "buy" rating on shares of OptimizeRx in a report on Tuesday, May 13th. Finally, Stifel Nicolaus upped their target price on shares of OptimizeRx from $8.00 to $12.50 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, OptimizeRx has an average rating of "Moderate Buy" and a consensus target price of $10.38.

Insider Buying and Selling

In other news, Director James Paul Lang purchased 321,408 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average cost of $7.60 per share, with a total value of $2,442,700.80. Following the purchase, the director now owns 389,452 shares in the company, valued at approximately $2,959,835.20. This trade represents a 472.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by corporate insiders.

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.