GoodRx (NASDAQ:GDRX) Sees Large Volume Increase – What’s Next?

Shares of GoodRx Holdings, Inc. (NASDAQ:GDRX) saw strong trading volume on Friday . 670,223 shares were traded during mid-day trading, an increase of 41% from the previous session’s volume of 476,006 shares.The stock last traded at $4.45 and had previously closed at $4.56.

Analysts Set New Price Targets

GDRX has been the topic of several recent research reports. Morgan Stanley decreased their price objective on GoodRx from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Citigroup decreased their price target on shares of GoodRx from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Mizuho initiated coverage on shares of GoodRx in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $5.00 price objective for the company. Finally, Barclays decreased their target price on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GoodRx presently has an average rating of “Moderate Buy” and a consensus target price of $8.64.

GoodRx Stock Down 2.4 %

The company has a current ratio of 5.48, a quick ratio of 5.48 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $4.90 and a 200 day simple moving average of $6.68. The company has a market cap of $1.70 billion, a P/E ratio of -148.33, a P/E/G ratio of 3.43 and a beta of 1.29.

Institutional Investors Weigh In On GoodRx

Several large investors have recently added to or reduced their stakes in GDRX. American Century Companies Inc. bought a new stake in shares of GoodRx during the second quarter valued at approximately $18,183,000. Point72 Asset Management L.P. purchased a new stake in shares of GoodRx in the 3rd quarter worth $11,295,000. Rubric Capital Management LP grew its position in shares of 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 buying an additional 1,619,748 shares in the last quarter. Millennium Management LLC grew 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 acquiring an additional 1,102,758 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in GoodRx during the 3rd quarter worth about $5,675,000. 63.77% of the stock is 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.