Wolverine Asset Management LLC Acquires Shares of 744,748 OptimizeRx Co. (OPRX)
Wolverine Asset Management LLC acquired a new position in shares of OptimizeRx Co. (OTCMKTS:OPRX) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 744,748 shares of the technology company’s stock, valued at approximately $7,745,000. Wolverine Asset Management LLC owned 0.06% of OptimizeRx at the end of the most recent reporting period.
Separately, Perkins Capital Management Inc. acquired a new stake in shares of OptimizeRx during the second quarter valued at about $1,634,000. 0.35% of the stock is owned by institutional investors and hedge funds.
In related news, insider Douglas P. Baker sold 4,784 shares of OptimizeRx stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $12.01, for a total value of $57,455.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Miriam J. Paramore acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was acquired at an average price of $8.07 per share, with a total value of $40,350.00. The disclosure for this purchase can be found here. Insiders purchased 7,995 shares of company stock valued at $71,691 in the last 90 days.
OptimizeRx (OTCMKTS:OPRX) last announced its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $5.10 million during the quarter, compared to analysts’ expectations of $4.34 million. OptimizeRx had a negative net margin of 10.02% and a negative return on equity of 22.08%. research analysts expect that OptimizeRx Co. will post -0.08 EPS for the current fiscal year.
A number of equities research analysts have weighed in on OPRX shares. Roth Capital reiterated a “buy” rating on shares of OptimizeRx in a research report on Monday, June 18th. Lake Street Capital lifted their price target on shares of OptimizeRx to $12.00 and gave the company a “positive” rating in a research report on Monday, June 25th. B. Riley lifted their price target on shares of OptimizeRx from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Finally, Zacks Investment Research upgraded shares of OptimizeRx from a “hold” rating to a “strong-buy” rating and set a $15.00 price target for the company in a research report on Tuesday, August 21st.
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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