OptimizeRx Corp. (OPRX), a point-of-care technology solutions provider to the healthcare industry, recently announced the launch of Therapy Initiation Workflow, a digital solution aimed at making the process of accessing treatments easier.
Following the news, shares of the company gained marginally to close at $65.12 in extended trade on Tuesday
With the adoption of digital capabilities rising in the healthcare space, especially in specialty medications, OptimizeRx’s new platform is expected to assist healthcare providers with a fully electronic option synchronizing enrollment, benefits verification, prior authorization and patient support onboarding.
The CEO of OptimizeRx, Will Febbo, said, “The launch of this technology solution is part of the evolution occurring across OptimizeRx’s maturing offerings. We are being recognized for delivering the most complete, best-in-class, and holistic suite of solutions at the point of care for our life sciences partners.” (See OptimizeRx stock chart on TipRanks)
Last month, B.Riley Financial analyst Andrew D’silva reiterated a Buy rating on the stock. The analyst, however, raised the price target from $80 to $95, which implies upside potential of 45.9% from current levels.
The Wall Street community is cautiously optimistic about the stock with a Moderate Buy consensus rating based on 2 unanimous Buys. The average OptimizeRx price target of $81 implies that the stock has upside potential of 24.4% from current levels.
OptimizeRx scores a 6 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations. Shares have gained about 221.6% over the past year.