BofA lowered the firm’s price target on GoodRx (GDRX) to $3 from $3.40 and keeps an Underperform rating on the shares after the company announced two initiatives for its weight loss offering. BofA sees the announcement positively as the collaboration builds on GoodRx’s existing partnership with Novo Nordisk and further expands the subscription offering, the firm told investors. BofA acknowledged the progress that GoodRx is making to expand partnerships but maintained its Underperform rating given broader headwinds from pharmacy closures and reimbursement changes in the pharmacy ecosystem.
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