GoodRx price target lowered to $4.25 from $4.50 at BofA

BofA lowered the firm’s price target on GoodRx (GDRX) to $4.25 from $4.50 and keeps an Underperform rating on the shares after the company announced the resignation of CFO Karsten Voermann. The outlook for GoodRx’s core prescription business is unclear heading into 2025, as pharmacies are pushing back more aggressively on pharmacy benefit manager reimbursements which could cause PBM economics to come under some pressure, the analyst tells investors in a research note. The firm added that it remains cautious on the growth trajectory in 2025.