GDRX stock rose more than 33% in early trading on July 31, 2023, after the company received positive comments from TD Cowen.
GoodRx upgraded to Outperform at TD Cowen
On July 31, 2023, news circulated that TD Cowen upgraded GoodRx (GDRX) to Outperform from Market Perform with a price target of $12. In February, GoodRx announced a pilot partnership with Express Scripts, part of Cigna’s (CI) Evernorth division, and more recently the company announced a similar partnership with CVS Health (CVS) that is expected to start in January. The analyst said that combined the two deals represent 60%-70% of covered pharmacy lives and that the new partnerships “will be a game changer”. Not only will the deals generate a new revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... stream for GoodRx capable of driving consolidated growth for “multiple years,” they will also for the first time integrate GoodRx into the broader health care ecosystem.
GoodRx is a company that provides a platform and mobile app to help consumers find and compare prescription drug prices at different pharmacies in the United States. The platform allows users to search for specific medications and view the prices offered at various pharmacies in their area. GoodRx also offers coupons and discount cards that can be used to save money on prescription medications. The aim of GoodRx is to help individuals compare prices, find the best deals, and save on their prescription drug costs.
