OptimizeRx Corporation

October 29, 2014 07:15 ET

OptimizeRx Corporation Announces Initiation of Research Coverage by Noble Financial Capital Markets

Starts Coverage With Buy Rating and $4.00 Price Target

ROCHESTER, MI--(Marketwired - October 29, 2014) - OptimizeRx Corporation (OTCQB: OPRX) announced that Noble Financial Capital Markets recently initiated coverage on OptimizeRx Corporation with a buy rating and stock target of $4.00. The report highlights the Company's expanding distribution capacity, its value proposition, favorable industry trends, operating leverage, and its strong, debt-free, balance sheet.

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"We are pleased a well-respected research firm like Noble has initiated coverage on our company and recognizes the value we have created and the escalating opportunities associated with our business via our proprietary technology, growing list of pharmaceutical manufacturers, and expanding EHR network," said David Harrell, CEO of OptimizeRx Corporation.

Specifically, the report included the following comments by Noble:

  • "Expect company to grow rapidly for several years as pharmaceutical industry shifts marketing dollars from legacy sales representative model, comprising $15 billion per year, towards the company's core pharmaceutical platform"
  • "Continued growth of distribution capacity and pharmaceutical clients, as well as brand expansion at existing clients, should be key growth drivers of pharmaceutical platform"
  • "Favorable trends, which include rapid growth of e-prescribing activity, and physician time pressures, should provide tailwinds for pharmaceutical platform"
  • "Opportunities in adjacent markets; veterinarian pharmaceutical platform should provide meaningful contribution over time"
  • "Our 12-18 month price target is $4, which is based on 20x our 2016 EPS forecast of $0.20"

The Company plans to announce its 3rd quarter operating results in early November and expects increased revenues over both the same quarter of 2013 and each of the first two quarters of 2014.

About OptimizeRx Corp
OPTIMIZERx Corp. (OTCQB: OPRX) provides unique consumer and physician platforms to help patients better afford and comply with their medicines and healthcare products, while offering pharmaceutical and healthcare companies more effective ways to expand patient awareness, access and adherence to their medications. For more information, please go to or

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

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