William J. Febbo, CEO of OptimizeRx Corp (NASDAQ:OPRX), has recently purchased 20,000 shares of the company’s common stock, according to a recent SEC filing. The shares were acquired at a weighted average price of $5.011 per share, representing a total transaction value of $100,220. Following this purchase, Febbo now holds a total of 601,253 shares directly. The transactions were completed on December 12, 2024, with prices ranging from $5.01 to $5.05 per share. While the stock has declined over 54% in the past six months, analyst price targets range from $7 to $17, suggesting potential upside. InvestingPro subscribers can access detailed insider trading analysis and 7 additional key insights about OPRX's financial health and growth prospects.
In other recent news, OptimizeRx has reported a 30% increase in revenue for the third quarter of Fiscal 2024, amounting to $21.3 million. Despite this growth, the company's earnings fell short of market expectations due to challenges in the Direct-to-Consumer (DTC) segment. Consequently, OptimizeRx adjusted its full-year 2024 revenue guidance to between $88 million and $92 million, with adjusted EBITDA projections of $8 million to $10 million.
The company is shifting its DTC business towards a self-service model, which has seen success with the micro-neighborhood targeting solution despite a decline in managed services. This strategic shift is part of the recent developments at OptimizeRx.
Additionally, the company reported a net loss of $9.1 million for the quarter, influenced by the Medicx Health acquisition and a goodwill impairment charge. However, there's optimism as the sales pipeline has doubled year-over-year, and four clients are expected to generate over $10 million each in 2025. Furthermore, five new DAAP deals were closed, doubling the previous year's total.
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