GoodRx (NASDAQ:GDRX) Shares Up 7.9% – Here’s Why

GoodRx Holdings, Inc. (NASDAQ:GDRX)’s stock price rose 7.9% on Tuesday . The company traded as high as $2.37 and last traded at $2.3850. Approximately 747,396 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,998,346 shares. The stock had previously closed at $2.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GDRX shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of GoodRx in a research report on Tuesday, December 23rd. Citigroup cut their price objective on GoodRx from $5.00 to $4.50 and set a “buy” rating on the stock in a report on Friday, January 9th. Morgan Stanley decreased their target price on shares of GoodRx from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Thursday, December 18th. JPMorgan Chase & Co. cut their price target on shares of GoodRx from $6.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, UBS Group reaffirmed a “reduce” rating on shares of GoodRx in a research note on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.73.

GoodRx Stock Up 7.0%

The company has a debt-to-equity ratio of 0.81, a current ratio of 3.11 and a quick ratio of 3.11. The business has a 50 day simple moving average of $2.65 and a 200 day simple moving average of $3.46. The stock has a market cap of $802.75 million, a PE ratio of 26.28, a P/E/G ratio of 0.93 and a beta of 1.50.

Institutional Investors Weigh In On GoodRx

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDRX. Meridian Wealth Management LLC bought a new stake in shares of GoodRx during the 4th quarter worth $29,000. Quarry LP acquired a new position in GoodRx during the 3rd quarter worth $33,000. Boothbay Fund Management LLC acquired a new position in GoodRx during the 3rd quarter worth $43,000. Shay Capital LLC bought a new stake in GoodRx during the third quarter valued at about $47,000. Finally, Hirtle Callaghan & Co LLC grew its position in shares of GoodRx by 60.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 18,261 shares of the company’s stock valued at $49,000 after purchasing an additional 6,869 shares during the last quarter. 63.77% of the stock is currently owned by institutional investors and hedge funds.

GoodRx Company Profile

GoodRx Holdings, Inc (NASDAQ: GDRX) operates a digital healthcare platform designed to help consumers compare prescription drug prices at retail pharmacies across the United States. Through its website and mobile applications, GoodRx aggregates pricing and discount information from a wide network of pharmacies, enabling users to access coupons and savings programs on both generic and brand-name medications. The platform also features price transparency tools that inform patients about cost variations and available discounts to alleviate the financial burden of prescription medications.

In addition to its core drug pricing service, GoodRx offers telehealth services under the GoodRx Care brand, providing virtual consultations for a range of non-emergency conditions and prescription needs.