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Investing.com - GoodRx Holdings Inc. (NASDAQ:GDRX), currently valued at $1.78 billion, maintained its Neutral rating and $5.00 price target in a research note from Mizuho (NYSE:MFG) on Tuesday. The stock has shown remarkable momentum, gaining over 46% in the past week. According to InvestingPro analysis, the company’s overall financial health score is rated as "GREAT."
The healthcare technology company recently announced a collaboration with Novo Nordisk (NYSE:NVO) to expand access to branded GLP-1 medications Ozempic and Wegovy, offering them to eligible cash-pay customers at $499 per month through retail channels.
Mizuho views this development positively for GoodRx, noting the company enters this market without channel conflicts since it has historically not been involved in dispensing compounded versions of GLP-1 drugs.
The research firm pointed out that GoodRx will need to leverage its existing provider relationships and app awareness to generate additional GLP-1 prescription volume, as the company owns minimal virtual provider assets.
Despite the positive outlook on the partnership, Mizuho maintained its earnings estimates and price target until there is greater clarity on volume capture trends, while acknowledging that approximately 17 million people sought GLP-1 savings and information through GoodRx in the past year.
In other recent news, GoodRx Holdings Inc. has announced a collaboration with Novo Nordisk to offer Ozempic and Wegovy to eligible self-paying patients for $499 per month. This partnership marks a significant price reduction for these GLP-1 medications, now available at over 70,000 retail pharmacies nationwide. The move aims to expand access to these medications for patients lacking adequate insurance coverage. Meanwhile, UBS has adjusted its price target for GoodRx to $4.25 from $5.25, maintaining a Neutral rating, following a downgrade in the company’s 2025 guidance due to Rite Aid (NYSE:US90274J5618=UBSS)’s bankruptcy and restructuring at a pharmacy benefit manager partner.
Additionally, Mizuho has reiterated its Neutral rating with a $5.00 price target, acknowledging the potential impact of the Novo Nordisk partnership. BofA Securities, however, has maintained its Underperform rating and a $3.40 price target, despite GoodRx’s new offerings, including a recent erectile dysfunction subscription. These developments reflect varied analyst perspectives on GoodRx’s strategic initiatives and market position.
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