OptimizeRx Sees Unusually High Options Volume (NASDAQ:OPRX)

OptimizeRx Co. (NASDAQ:OPRX) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 2,553 call options on the company. This is an increase of approximately 200% compared to the average daily volume of 851 call options.

OptimizeRx stock opened at $48.53 on Friday. OptimizeRx has a 52 week low of $8.66 and a 52 week high of $63.98. The firm has a market capitalization of $815.64 million, a PE ratio of -127.71 and a beta of 0.82. The business’s 50-day simple moving average is $48.84 and its 200-day simple moving average is $37.80.

OptimizeRx (NASDAQ:OPRX) last issued its quarterly earnings results on Tuesday, February 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. OptimizeRx had a negative return on equity of 10.86% and a negative net margin of 16.20%. The firm had revenue of $16.43 million for the quarter, compared to analyst estimates of $16.02 million. On average, analysts predict that OptimizeRx will post -0.08 earnings per share for the current year.

In related news, CEO William J. Febbo sold 80,000 shares of OptimizeRx stock in a transaction on Thursday, March 25th. The stock was sold at an average price of $46.10, for a total transaction of $3,688,000.00. Following the completion of the sale, the chief executive officer now owns 273,278 shares of the company’s stock, valued at $12,598,115.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Douglas P. Baker sold 5,032 shares of OptimizeRx stock in a transaction on Friday, January 29th. The shares were sold at an average price of $47.25, for a total value of $237,762.00. Following the sale, the chief financial officer now directly owns 85,902 shares of the company’s stock, valued at approximately $4,058,869.50. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of OPRX. JPMorgan Chase & Co. increased its stake in OptimizeRx by 11.9% during the third quarter. JPMorgan Chase & Co. now owns 5,431 shares of the company’s stock valued at $115,000 after acquiring an additional 577 shares during the period. Morgan Stanley boosted its holdings in OptimizeRx by 1,818.4% during the third quarter. Morgan Stanley now owns 85,446 shares of the company’s stock valued at $1,782,000 after purchasing an additional 80,992 shares in the last quarter. Handelsinvest Investeringsforvaltning boosted its holdings in OptimizeRx by 50.0% during the fourth quarter. Handelsinvest Investeringsforvaltning now owns 120,000 shares of the company’s stock valued at $3,739,000 after purchasing an additional 40,000 shares in the last quarter. Calamos Advisors LLC boosted its holdings in OptimizeRx by 69.6% during the fourth quarter. Calamos Advisors LLC now owns 67,278 shares of the company’s stock valued at $2,096,000 after purchasing an additional 27,618 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in OptimizeRx by 5.1% during the fourth quarter. BlackRock Inc. now owns 985,110 shares of the company’s stock valued at $30,697,000 after purchasing an additional 48,014 shares in the last quarter. Hedge funds and other institutional investors own 62.41% of the company’s stock.

Several equities analysts have weighed in on the company. Roth Capital raised their target price on OptimizeRx from $70.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, March 3rd. Lake Street Capital raised their target price on OptimizeRx from $40.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 26th. Zacks Investment Research lowered OptimizeRx from a “buy” rating to a “hold” rating in a report on Friday, February 26th. Royal Bank of Canada initiated coverage on OptimizeRx in a report on Monday. They set an “outperform” rating and a $65.00 target price on the stock. Finally, B. Riley lifted their price objective on OptimizeRx from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. OptimizeRx presently has a consensus rating of “Buy” and a consensus target price of $63.00.

About OptimizeRx

OptimizeRx Corporation operates as a digital health company that facilitates communication at point-of-care among various stakeholders in healthcare. Its cloud-based solution supports patient adherence to medications by providing real-time access to financial assistance, prior authorization, and critical clinical information; and network consists of electronic health record company platforms, which provide the ambulatory patient market with access to their workflow at the point-of-care.

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