OptimizeRx (NASDAQ:OPRX) Director Patrick Spangler Sells 11,120 Shares

Key Points

• Patrick Spangler, Director of OptimizeRx, sold 11,120 shares at an average price of $17.49, reducing his position by 20.10% to a total of 44,215 shares valued at approximately $773,320.
• Despite the insider sale, OptimizeRx stock has seen an increase, recently trading at $18.56, with a market capitalization of $344.66 million.
• Analysts are optimistic about OptimizeRx, with several upgrading their ratings and price targets, with a consensus rating of "Moderate Buy" and a target price of $11.81.

OptimizeRx Corp. (NASDAQ:OPRX - Get Free Report) Director Patrick Spangler sold 11,120 shares of the business's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $17.49, for a total transaction of $194,488.80. Following the transaction, the director directly owned 44,215 shares in the company, valued at $773,320.35. This trade represents a 20.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

OptimizeRx Stock Performance

OPRX stock traded up $1.00 on Thursday, reaching $18.56. 230,656 shares of the company were exchanged, compared to its average volume of 379,585. OptimizeRx Corp. has a 12 month low of $3.78 and a 12 month high of $19.25. The stock's fifty day moving average price is $15.18 and its 200 day moving average price is $11.66. The firm has a market capitalization of $344.66 million, a PE ratio of -34.37 and a beta of 1.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.57 and a quick ratio of 2.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of OptimizeRx from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Stifel Nicolaus lifted their price target on shares of OptimizeRx from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Zacks Research upgraded shares of OptimizeRx from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. JMP Securities lifted their price target on shares of OptimizeRx from $14.00 to $20.00 and gave the stock a "market outperform" rating in a research note on Monday, August 11th. Finally, Roth Capital reiterated a "buy" rating on shares of OptimizeRx in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.81.

Institutional Investors Weigh In On OptimizeRx

Several institutional investors and hedge funds have recently made changes to their positions in OPRX. Nisa Investment Advisors LLC raised its holdings in shares of OptimizeRx by 600.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,121 shares of the company's stock valued at $29,000 after buying an additional 1,818 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of OptimizeRx in the first quarter valued at about $33,000. Quantbot Technologies LP bought a new position in shares of OptimizeRx in the second quarter valued at about $44,000. Wells Fargo & Company MN raised its holdings in shares of OptimizeRx by 33.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,208 shares of the company's stock valued at $54,000 after buying an additional 2,797 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of OptimizeRx by 119.2% in the second quarter. BNP Paribas Financial Markets now owns 4,074 shares of the company's stock valued at $55,000 after buying an additional 2,215 shares during the last quarter. Institutional investors and hedge funds own 76.47% of the company's stock.

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.

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