Health insurance provider and medicare-focused digital health company GoHealth, Inc. (GOCO) recently announced that it has entered into an agreement with GoodRx, Inc., which is focused on healthcare savings. Following the news, shares of the company gained 1.8% to close at $9.19 in the extended trading session.
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With this partnership, consumers of GoHealth will gain access to GoodRx’s prescription discounts on GoHealth’s Encompass platform. Meanwhile, users of GoodRx will be able to avail GoHealth’s medicare plan selection solutions.
The Senior Vice-President of Strategic Partnerships at GoHealth, Ben Miller, said, “We’re excited to bring GoodRx into GoHealth’s robust ecosystem of strategic partners. Prescription costs are a major financial barrier for many people, especially Medicare members, and GoodRx’s platform is greatly beneficial to finding savings for our members.” (See GoHealth stock chart on TipRanks)
Three months ago, Raymond James analyst Charles Peters reiterated a Buy rating on the stock with a price target of $14. The analyst’s price target implies upside potential of 55% from current levels.
Consensus among analysts is a Strong Buy based on 3 Buys and 1 Holds. The average GoHealth price target of $16.50 implies upside potential of 82.7% from current levels. Shares have declined 50.6% over the past year.
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