B.Riley FBR Keeps Their Buy Rating on OptimizeRx Corporation (OPRX)


B.Riley FBR analyst Andrew D’silva maintained a Buy rating on OptimizeRx Corporation (OPRX) today. The company’s shares opened today at $10.84.

D’silva wrote:

“Corporation (OPRX) priced an offering of shares owned by a selling shareholder, WPP . WPP , which strategically invested in OPRX in 2015, sold its 2.1M-share position at $10 per share. (B. Riley FBR acted as a joint book-running manager.) The transaction has a 30-day over-allotment option for an additional 0.3M shares, which, if fully exercised, would be the only new shares issued by OPRX from the transaction and would equate to ~ $2.9M in net proceeds. WPP exiting its position is not surprising: WPP has had significant operational headwinds in 2018, which resulted in management changes and the announcement of a substantial overhaul in December, when WPP noted that it plans to reduce its head count by ~3.5k and close/consolidate dozens of business units.”

According to TipRanks.com, D’silva is a 4-star analyst with an average return of 6.3% and a 39.5% success rate. D’silva covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Imprimis Pharmaceuticals, and Oramed Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for OptimizeRx Corporation.

See today’s analyst top recommended stocks >>

The company has a one-year high of $18.39 and a one-year low of $3.36. Currently, OptimizeRx Corporation has an average volume of 52.87K.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OPRX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

OptimizeRx Corp. engages in the provision of digital health messaging via electronic health records (EHR), which serves as a direct channel for pharmaceutical companies to communicate with healthcare providers. Its services include EHR workflow solutions such as financial messaging, patient education, and brand messaging; and brand support.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts