GoodRx stock soars after announcing GLP-1 partnership with Novo Nordisk. A Bank of America analyst recommends selling GDRX shares into the strength before they crash again.

On Friday, Novo Nordisk announced that the U.S. Food and Drug Administration (FDA) had approved Wegovy for the treatment of metabolic dysfunction-associated steatohepatitis (MASH). Wegovy has become a household name, famous for helping people manage their weight, but this new indication could be a significant development. Here's why.

Interestingly, Wall Street firms largely believe the former will playout in the long run. According to The Wall Street Journal, the consensus rating on Goodrx Holdings currently sits at “overweight” with price targets going as high as $7.0, indicating potential “upside” of another 35% from here.

GoodRx is joining the GLP-1 action with an announcement Monday to begin selling both of Novo Nordisk's GLP-1 drugs, Ozempic and Wegovy, at a cash price of $499 per month.

Shares of Novo Nordisk ( NVO 4.81%), the Danish pharmaceuticals company famed for Ozempic and Wegovy weight loss drugs, jumped 5% through 9:55 a.m. ET Monday on a series of positive announcements for its GLP-1 products.

GoodRx shares are pulling back Tuesday morning. The stock had jumped over 30% Monday after the company announced a new partnership with Novo Nordisk.