GoodRx (NASDAQ:GDRX) Trading Up 6.6% – Here’s Why

GoodRx Holdings, Inc. (NASDAQ:GDRX) shares were up 6.6% during mid-day trading on Thursday . The stock traded as high as $5.43 and last traded at $5.21. Approximately 406,469 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 1,148,701 shares. The stock had previously closed at $4.89.

Analysts Set New Price Targets

GDRX has been the subject of several recent analyst reports. KeyCorp reduced their price objective on shares of GoodRx from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their price target on shares of GoodRx from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Friday. Mizuho assumed coverage on shares of GoodRx in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $5.00 price target for the company. Morgan Stanley cut their price objective on shares of GoodRx from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Barclays decreased their target price on GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.25.

GoodRx Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 5.48 and a current ratio of 5.48. The business has a 50 day simple moving average of $4.71 and a 200-day simple moving average of $5.74. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -166.00, a P/E/G ratio of 2.46 and a beta of 1.28.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GDRX. Raymond James & Associates lifted its stake in GoodRx by 212.6% during the 3rd quarter. Raymond James & Associates now owns 394,006 shares of the company’s stock valued at $2,734,000 after acquiring an additional 267,951 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of GoodRx during the third quarter valued at about $370,000. Quest Partners LLC purchased a new position in GoodRx during the third quarter worth about $160,000. Charles Schwab Investment Management Inc. grew its position in GoodRx by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,123 shares of the company’s stock worth $3,332,000 after purchasing an additional 26,262 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its stake in GoodRx by 260.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 44,419 shares of the company’s stock valued at $308,000 after buying an additional 32,104 shares during the last quarter. Hedge funds and other institutional investors own 63.77% of the company’s stock.

About GoodRx

GoodRx Holdings, Inc, together with its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States. The company operates a price comparison platform that provides consumers with curated, geographically relevant prescription pricing, and access to negotiated prices.