Why GoodRx Stock Is Trading Higher Monday

GoodRx Holdings, Inc. (NASDAQ:) shares are trading higher on Monday after TD Cowen upgraded its rating of the stock to Outperform and raised its price target.

What To Know:

On Monday, TD Cowen analyst Charles Rhyee upgraded GoodRx Holdings from Market Perform to Outperform and raised the GDRX price target from $6.5 to $12.

Shares of GDRX are up more than 30% on very heavy trading volume. According to data from Benzinga Pro, more than 10.7 million shares have been traded in the session, compared to the stock's 100-day average of 1.244 million shares.

On Thursday, GoodRx announced the release of its Medicine Cabinet app for iOS.  The app provides consumers with tools to keep track of their prescriptions, get refill and daily pill reminders, find low prices and earn rewards.

GoodRx will report its second quarter financial results on Aug. 9 before markets open and will host a conference call to discuss the results at 8:00 a.m. ET the same day.

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GDRX Price Action: According to Benzinga Pro, shares of GDRX are trading 33.8% higher at $9.03 at the time of publication.

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