GoodRx Holdings (GDRX) stock surged over 37% on Tuesday after announcing a deal with Novo Nordisk to sell the Danish pharma giant’s GLP-1 drugs, including Ozempic and Wegovy, at $499 per month. The move comes as rival Hims & Hers Health watched its partnership with Novo Nordisk abruptly end due to accusations of illegal mass compounding and deceptive marketing practices.
GDRX is now poised to expand access to these in-demand medications for patients without adequate insurance coverage, according to the company. Meanwhile, Hims & Hers Health faces ongoing legal challenges related to its dealings with Novo Nordisk.
Analysts at Truist have adjusted their price target for Hims & Hers Health (HIMS) stock to $37, citing a potential increase in GLP-1-related revenues in the third quarter and fourth quarter. Despite these mixed results, HIMS stock remains up by about 87% year-to-date, with an average stock price target of $48.18 indicating around 7% upside potential.
The current Hold consensus rating on Hims & Hers Health stock is based on eight Holds, two Buys, and two Sell recommendations from Wall Street analysts.
Source: https://www.tipranks.com/news/hims-hers-health-stock-falls-while-goodrx-rallies-on-deal-with-novo-nordisk