Weiss Ratings Reaffirms Sell (D-) Rating for OptimizeRx (NASDAQ:OPRX)

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for OptimizeRx (NASDAQ:OPRX), indicating ongoing concerns about the stock's performance.
• Despite the sell rating, the stock has received mixed reviews from other analysts, with eight giving it a "buy" rating and a consensus price target of $13.39.
• CEO Stephen L. Silvestro recently sold 1,620 shares of OptimizeRx, which raises questions about insider confidence in the company's future prospects.

OptimizeRx (NASDAQ:OPRX - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

OPRX has been the subject of a number of other reports. UBS Group set a $23.00 price objective on OptimizeRx in a report on Friday, October 10th. Stifel Nicolaus upped their price objective on OptimizeRx from $16.00 to $18.00 and gave the company a "buy" rating in a report on Friday, August 8th. Roth Capital reiterated a "buy" rating on shares of OptimizeRx in a report on Friday, August 8th. JMP Securities upped their price objective on OptimizeRx from $20.00 to $23.00 and gave the company a "market outperform" rating in a report on Friday, October 10th. Finally, Citigroup reiterated an "outperform" rating on shares of OptimizeRx in a report on Friday, October 10th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $13.39.

OptimizeRx Price Performance

OPRX stock opened at $21.68 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.57 and a quick ratio of 2.57. The business has a 50 day simple moving average of $18.39 and a 200-day simple moving average of $14.33. The firm has a market capitalization of $402.60 million, a PE ratio of -40.15 and a beta of 1.25. OptimizeRx has a 1 year low of $3.78 and a 1 year high of $21.99.

Insiders Place Their Bets

In other OptimizeRx news, CEO Stephen L. Silvestro sold 1,620 shares of the company's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $18.75, for a total transaction of $30,375.00. Following the transaction, the chief executive officer directly owned 188,916 shares in the company, valued at $3,542,175. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patrick D. Spangler sold 11,120 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $17.49, for a total value of $194,488.80. Following the transaction, the director owned 44,215 shares in the company, valued at $773,320.35. This trade represents a 20.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Parkman Healthcare Partners LLC purchased a new stake in shares of OptimizeRx during the first quarter worth $4,114,000. Invesco Ltd. purchased a new stake in shares of OptimizeRx during the first quarter worth $2,542,000. Manatuck Hill Partners LLC increased its position in shares of OptimizeRx by 139.5% during the second quarter. Manatuck Hill Partners LLC now owns 455,000 shares of the company's stock worth $6,142,000 after acquiring an additional 265,000 shares during the period. Whetstone Capital Advisors LLC increased its position in shares of OptimizeRx by 11.7% during the first quarter. Whetstone Capital Advisors LLC now owns 1,508,303 shares of the company's stock worth $13,062,000 after acquiring an additional 157,880 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of OptimizeRx during the second quarter worth $2,111,000. 76.47% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.