Morgan Stanley Cuts GoodRx (NASDAQ:GDRX) Price Target to $6.00

GoodRx (NASDAQ:GDRX) had its price objective decreased by equities researchers at Morgan Stanley from $7.00 to $6.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 35.14% from the stock’s previous close.

Several other equities analysts have also recently commented on the company. Citigroup cut their price target on GoodRx from $10.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Mizuho began coverage on shares of GoodRx in a report on Wednesday, December 4th. They issued a “neutral” rating and a $5.00 price target on the stock. Finally, Barclays reduced their price objective on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.37.

GoodRx Stock Performance

Shares of GDRX stock traded down $0.15 during trading hours on Tuesday, reaching $4.44. 572,937 shares of the company’s stock were exchanged, compared to its average volume of 1,417,674. The company has a quick ratio of 5.48, a current ratio of 5.48 and a debt-to-equity ratio of 0.70. GoodRx has a fifty-two week low of $4.09 and a fifty-two week high of $9.26. The business has a fifty day moving average price of $5.53 and a 200-day moving average price of $7.06. The stock has a market capitalization of $1.69 billion, a P/E ratio of -148.00, a P/E/G ratio of 3.54 and a beta of 1.29.

Institutional Trading of GoodRx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Liontrust Investment Partners LLP bought a new stake in shares of GoodRx in the 2nd quarter valued at about $520,000. Legato Capital Management LLC acquired a new stake in shares of GoodRx during the second quarter worth about $805,000. Picton Mahoney Asset Management increased its stake in GoodRx by 24.3% during the 2nd 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 in the last quarter. ClariVest Asset Management LLC raised its holdings in shares of GoodRx by 27.4% during the second quarter. ClariVest Asset Management LLC now owns 195,722 shares of the company’s stock worth $1,527,000 after acquiring an additional 42,097 shares during the period. Finally, American Century Companies Inc. acquired a new position in GoodRx in the 2nd quarter worth $18,183,000. 63.77% of the stock is owned by 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.