First Light Asset Management LLC Purchases 89,377 Shares of OptimizeRx Co. (NASDAQ:OPRX)

First Light Asset Management LLC increased its position in shares of OptimizeRx Co. (NASDAQ:OPRX) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,826,961 shares of the company’s stock after acquiring an additional 89,377 shares during the quarter. OptimizeRx comprises about 1.6% of First Light Asset Management LLC’s investment portfolio, making the stock its 28th largest position. First Light Asset Management LLC owned approximately 10.00% of OptimizeRx worth $18,270,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in OptimizeRx by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,027,293 shares of the company’s stock valued at $12,482,000 after purchasing an additional 6,291 shares during the period. AWM Investment Company Inc. raised its stake in shares of OptimizeRx by 4.0% during the first quarter. AWM Investment Company Inc. now owns 853,042 shares of the company’s stock worth $10,364,000 after buying an additional 33,000 shares during the last quarter. Blair William & Co. IL lifted its holdings in OptimizeRx by 5.6% in the first quarter. Blair William & Co. IL now owns 782,573 shares of the company’s stock valued at $9,508,000 after buying an additional 41,469 shares during the period. Rice Hall James & Associates LLC boosted its stake in OptimizeRx by 23.5% in the second quarter. Rice Hall James & Associates LLC now owns 496,135 shares of the company’s stock valued at $4,961,000 after acquiring an additional 94,253 shares during the last quarter. Finally, G2 Investment Partners Management LLC increased its position in shares of OptimizeRx by 26.0% during the fourth quarter. G2 Investment Partners Management LLC now owns 468,120 shares of the company’s stock worth $6,699,000 after acquiring an additional 96,646 shares in the last quarter. Institutional investors own 76.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OPRX. Royal Bank of Canada reduced their target price on shares of OptimizeRx from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, August 16th. Barclays reduced their price objective on OptimizeRx from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, August 12th. B. Riley began coverage on OptimizeRx in a research report on Thursday, July 25th. They issued a “buy” rating and a $18.50 target price on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price target on shares of OptimizeRx in a research report on Friday, June 21st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, OptimizeRx has an average rating of “Moderate Buy” and a consensus price target of $14.50.

OptimizeRx Trading Up 3.6 %

NASDAQ OPRX opened at $8.16 on Tuesday. OptimizeRx Co. has a 12 month low of $6.92 and a 12 month high of $16.65. The company has a current ratio of 3.07, a quick ratio of 3.07 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $8.78 and a 200-day moving average of $10.36. The company has a market cap of $149.08 million, a PE ratio of -8.00 and a beta of 1.27.

OptimizeRx (NASDAQ:OPRX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.11. The firm had revenue of $18.81 million during the quarter, compared to analysts’ expectations of $20.47 million. OptimizeRx had a negative net margin of 21.53% and a negative return on equity of 5.97%. On average, equities research analysts anticipate that OptimizeRx Co. will post -0.33 EPS for the current fiscal year.

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.