OptimizeRx (OPRX) Stock Price Down 17.8%

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OptimizeRx Co. (OTCMKTS:OPRX) dropped 17.8% during trading on Tuesday . The stock traded as low as $9.45 and last traded at $9.54. Approximately 592,343 shares changed hands during trading, an increase of 1,196% from the average daily volume of 45,713 shares. The stock had previously closed at $11.60.

Several equities research analysts have recently weighed in on OPRX shares. Lake Street Capital upped their target price on OptimizeRx to $18.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. Zacks Investment Research downgraded OptimizeRx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th.

OptimizeRx (OTCMKTS:OPRX) last released its quarterly earnings results on Monday, November 5th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $5.42 million for the quarter, compared to analysts’ expectations of $5.28 million.

A number of institutional investors have recently bought and sold shares of the stock. MAI Capital Management bought a new position in shares of OptimizeRx in the 2nd quarter worth $139,000. Intellectus Partners LLC bought a new position in OptimizeRx during the 3rd quarter worth approximately $1,170,000. Wolverine Asset Management LLC bought a new position in OptimizeRx during the 2nd quarter worth approximately $7,745,000. EAM Investors LLC bought a new position in OptimizeRx during the 3rd quarter worth approximately $974,000. Finally, Wasatch Advisors Inc. acquired a new stake in shares of OptimizeRx during the 3rd quarter worth approximately $1,244,000. 0.35% of the stock is currently owned by institutional investors and hedge funds.

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About OptimizeRx (OTCMKTS:OPRX)

OptimizeRx Corporation provides digital health messaging to the pharmaceutical industry. The company offers a direct channel for pharmaceutical companies to communicate with healthcare providers. Its products and applications include financial messaging, a virtual patient support center that allows doctors and staff to access sample vouchers, co-pay coupons, and other patient support through their EMR and/or e-Prescribe systems to search, print, or electronically dispense directly to patients, as well as a network of pharmacies; and brand messaging services, such as various brand awareness and clinical messaging services consisting of brand awareness messages, reminder ads, clinical messages, and unbranded messages that could be targeted by specialty, diagnostic code, and other criteria.

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