GoodRx (NASDAQ:GDRX) Price Target Lowered to $7.00 at Citigroup

GoodRx (NASDAQ:GDRX) had its price target reduced by Citigroup from $10.00 to $7.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on GDRX. UBS Group reduced their price objective on shares of GoodRx from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Raymond James upgraded GoodRx from an “outperform” rating to a “strong-buy” rating and set a $10.00 price target on the stock in a report on Friday, August 9th. Barclays dropped their price objective on GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Monday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 target price on shares of GoodRx in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $8.86.

GoodRx Trading Down 0.9 %

Shares of GDRX opened at $4.66 on Wednesday. The company’s fifty day simple moving average is $6.69 and its 200-day simple moving average is $7.46. The company has a market cap of $1.77 billion, a P/E ratio of -155.33, a P/E/G ratio of 3.24 and a beta of 1.39. The company has a current ratio of 5.48, a quick ratio of 5.48 and a debt-to-equity ratio of 0.70. GoodRx has a twelve month low of $4.55 and a twelve month high of $9.26.

Insider Buying and Selling at GoodRx

In other news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.86, for a total value of $83,921.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Rubric Capital Management LP lifted its stake in shares of GoodRx by 25.2% during the 3rd quarter. Rubric Capital Management LP now owns 4,680,028 shares of the company’s stock worth $32,479,000 after purchasing an additional 943,226 shares during the last quarter. Millennium Management LLC lifted its position in GoodRx by 36.5% during the second quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock valued at $32,151,000 after acquiring an additional 1,102,758 shares during the last quarter. American Century Companies Inc. acquired a new stake in GoodRx in the second quarter valued at approximately $18,183,000. Picton Mahoney Asset Management grew its holdings in GoodRx by 24.3% in the second quarter. Picton Mahoney Asset Management now owns 607,090 shares of the company’s stock worth $4,736,000 after purchasing an additional 118,703 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in GoodRx by 5.8% in the third 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 during the last quarter. 63.77% of the stock is currently owned by hedge funds and other institutional investors.

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.