GDRX - GoodRx initiated as a buy at Guggenheim as a 'disruptor' in the pharmacy space
Guggenheim has initiated prescription drugs savings platform GoodRx Holdings (NASDAQ:GDRX) with a buy as it offers savings for consumers and higher prescription drug compliance for physicians. The firm has a $24 price target (~28% upside based on Wednesday's close). Analyst Sandy Draper said that GoodRx (GDRX) "capitalizes on the ongoing trend toward digital behavior in healthcare by leveraging a large and engaged user base." He added that he sees sustainable 20%+ top-line growth. While shares are down ~60% from a 52-week high in October 2021, Draper wrote that the Street is underestimating the long-term growth and free cash flow of the company. In March, GoodRx (GDRX) acquired TherapeuticsMD's (TXMD) vitaCare Prescription Services business.
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GoodRx initiated as a buy at Guggenheim as a 'disruptor' in the pharmacy space