GoodRx stock rises 5% after new CEO appointment

Investing.com -- GoodRx Holdings, Inc. (NASDAQ: GDRX), a prescription savings platform in the United States, has announced the appointment of Wendy Barnes as the new President and Chief Executive Officer, effective from January 1, 2025. Following the announcement, GoodRx's shares rose by 5%.

Barnes has over 30 years of leadership experience in the pharmacy and medical benefit industry. She will be stepping into her role at GoodRx after serving as the CEO of RxBenefits, where she successfully led the company in providing pharmacy benefit support to over 2,000 self-insured clients. Prior to her position at RxBenefits, Barnes served as the President of Express Scripts Pharmacy.

Scott Wagner, Interim CEO at GoodRx, expressed his excitement about Barnes joining GoodRx at such a crucial time for the healthcare industry.

Wells Fargo (NYSE:WFC ) analyst Stan Berenshteyn reiterated an Overweight rating and a $9.00 price target on GoodRx Holdings Inc. (NASDAQ: GDRX). He commented that Barnes's experience and background seem to be a good fit for GoodRx, despite the unexpected nature of the announcement potentially adding some near-term uncertainty to the growth narrative. Berenshteyn's initial impression is that Barnes's experience covers most of the key stakeholders that GoodRx may engage with, which could be a significant asset for GoodRx as it seeks to sustain its market leadership and carve out a more predictable and differentiated monetization strategy.

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Source: Investing.com