Wells Fargo & Company Lowers GoodRx (NASDAQ:GDRX) Price Target to $8.00

GoodRx (NASDAQ:GDRX) had its price target cut by research analysts at Wells Fargo & Company from $9.00 to $8.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 60.64% from the stock’s previous close.

Several other research firms have also recently weighed in on GDRX. KeyCorp reduced their target price on shares of GoodRx from $7.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Barclays reduced their target price on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Morgan Stanley reduced their target price on shares of GoodRx from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Mizuho assumed coverage on shares of GoodRx in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $5.00 target price for the company. Finally, Citigroup reduced their target price on shares of GoodRx from $7.00 to $6.25 and set a “buy” rating for the company in a research note on Friday, January 10th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GoodRx presently has a consensus rating of “Moderate Buy” and an average price target of $8.18.

GoodRx Price Performance

GDRX stock opened at $4.98 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 5.48 and a quick ratio of 5.48. GoodRx has a 52-week low of $4.09 and a 52-week high of $9.26. The company has a 50-day moving average of $4.71 and a two-hundred day moving average of $5.74. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -166.00, a price-to-earnings-growth ratio of 2.46 and a beta of 1.28.

Institutional Trading of GoodRx

Several hedge funds have recently modified their holdings of GDRX. Point72 Asset Management L.P. acquired a new stake in shares of GoodRx in the third quarter valued at approximately $11,295,000. Clearbridge Investments LLC acquired a new stake in shares of GoodRx in the fourth quarter valued at approximately $5,863,000. Rubric Capital Management LP increased its holdings in shares of GoodRx by 25.2% in the third quarter. Rubric Capital Management LP now owns 4,680,028 shares of the company’s stock valued at $32,479,000 after purchasing an additional 943,226 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of GoodRx in the third quarter valued at approximately $5,675,000. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of GoodRx by 303.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,061,461 shares of the company’s stock valued at $4,936,000 after purchasing an additional 798,261 shares in the last quarter. Institutional investors and hedge funds own 63.77% of the company’s stock.

GoodRx Company Profile

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.