Why GoodRx Stock Popped Today

GoodRx Holdings, Inc. GDRX shares are trading higher Wednesday after the company and CVS CVS Caremark announced the launch of Caremark Cost Saver.

What To Know: The intent of Caremark Cost Saver is to assist CVS Caremark client members in lowering pharmacy out-of-pocket drug costs, providing them with automatic access to GoodRx's prescription pricing. The payment made will be automatically credited towards the deductible and out-of-pocket limits of plan members.

"We work every day to provide a more affordable drug benefit for our CVS Caremark clients and their plan members, and this collaborative prescription discount solution enables us to dynamically shop for the best price on their behalf," said David Joyner, Executive Vice President, CVS Health and President, CVS Caremark.

"By lowering out-of-pocket costs for our clients' members, Caremark Cost Saver will help patients afford to take their medicine as directed."

Also on Wednesday, Keybanc analyst Scott Schoenhaus maintained GoodRx Holdings at Sector Weight.

Related Link: Why CrowdStrike Stock Is Down Today

GDRX Price Action: Shares of GDRX were up 22.4% at $6.61 at the time of publication, according to Benzinga Pro.

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