Rice Hall James & Associates LLC Lowers Position in OptimizeRx Co. (NASDAQ:OPRX)

Rice Hall James & Associates LLC cut its holdings in OptimizeRx Co. (NASDAQ:OPRX) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 577,738 shares of the company’s stock after selling 37,703 shares during the quarter. Rice Hall James & Associates LLC owned approximately 3.14% of OptimizeRx worth $2,808,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in OptimizeRx by 358.5% in the third quarter. Barclays PLC now owns 26,934 shares of the company’s stock worth $208,000 after acquiring an additional 21,060 shares during the period. Janney Montgomery Scott LLC purchased a new stake in OptimizeRx in the third quarter worth about $810,000. BNP Paribas Financial Markets lifted its stake in OptimizeRx by 189.2% in the third quarter. BNP Paribas Financial Markets now owns 3,690 shares of the company’s stock worth $28,000 after acquiring an additional 2,414 shares during the period. Quest Partners LLC lifted its stake in OptimizeRx by 15,965.6% in the third quarter. Quest Partners LLC now owns 9,800 shares of the company’s stock worth $76,000 after acquiring an additional 9,739 shares during the period. Finally, SG Americas Securities LLC bought a new position in OptimizeRx in the fourth quarter worth about $51,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at OptimizeRx

In other OptimizeRx news, CEO William J. Febbo purchased 20,000 shares of OptimizeRx stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $5.01 per share, with a total value of $100,200.00. Following the transaction, the chief executive officer now owns 601,253 shares of the company’s stock, valued at $3,012,277.53. This represents a 3.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by insiders.

OptimizeRx Price Performance

Shares of OptimizeRx stock opened at $6.62 on Wednesday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average price of $5.36 and a 200 day moving average price of $6.28. OptimizeRx Co. has a 52 week low of $3.78 and a 52 week high of $16.65.

Analysts Set New Price Targets

A number of brokerages have commented on OPRX. Barclays reduced their target price on shares of OptimizeRx from $11.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price (down from $7.00) on shares of OptimizeRx in a report on Wednesday, January 8th. William Blair reiterated an “outperform” rating on shares of OptimizeRx in a report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of OptimizeRx in a report on Thursday, February 6th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $11.00 target price on shares of OptimizeRx in a report on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.06.

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.