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

GoodRx (NASDAQ:GDRX) had its target price reduced by Morgan Stanley from $7.00 to $6.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

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

GoodRx Stock Up 2.7 %

GDRX opened at $4.49 on Tuesday. GoodRx has a fifty-two week low of $4.09 and a fifty-two week high of $9.26. The firm has a market capitalization of $1.71 billion, a P/E ratio of -149.67, a PEG ratio of 3.54 and a beta of 1.29. The company’s 50-day moving average is $5.38 and its 200 day moving average is $7.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 5.48 and a quick ratio of 5.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. purchased a new stake in shares of GoodRx during the second quarter worth $18,183,000. Point72 Asset Management L.P. bought a new stake in shares of GoodRx during the 3rd quarter valued at $11,295,000. Rubric Capital Management LP lifted its holdings in GoodRx by 76.5% during the 2nd quarter. Rubric Capital Management LP now owns 3,736,802 shares of the company’s stock worth $29,147,000 after purchasing an additional 1,619,748 shares in the last quarter. Millennium Management LLC lifted its holdings in GoodRx by 36.5% during the 2nd quarter. Millennium Management LLC now owns 4,121,939 shares of the company’s stock worth $32,151,000 after purchasing an additional 1,102,758 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in GoodRx in the 3rd quarter worth about $5,675,000. 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.