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Wall Street analysts say buy these 2 healthcare stocks spring-loaded for gains after getting pummeled by Amazon Pharmacy a?? including one poised to surge 81%

Wall Street analysts say buy these 2 healthcare stocks spring-loaded for gains after getting pummeled by Amazon Pharmacy a?? including one poised to surge 81%

Customers can now purchase prescription medications through Amazon Pharmacy.
Amazon




On Tuesday, Amazon launched Amazon Pharmacy, its long-awaited push into prescription drugs.




It sent healthcare stocks tumbling, including wholesalers, health plans, and pharmacies.




But two companies — GoodRx and AmerisourceBergen — were too caught up in the sell-off, Wall Street analysts said.




GoodRx, a company that offers discounts on drugs, has a more extensive healthcare network than Amazon, SVB Leerink analysts said in a Wednesday note.




And AmerisourceBergen, a drug distributor and wholesaler, works with Amazon to ship drugs. So it stands to benefit from Amazon Pharmacy's expansion, according to Evercore analysts.




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On Tuesday, Amazon announced its long-awaited push into prescription drugs, a service called Amazon Pharmacy that lets people shop for drugs online and get discounts. The news sent healthcare stocks tumbling, including wholesalers, health plans, and pharmacies. It's just one phase of Amazon's plans to disrupt healthcare, which span from wearables to telehealth. But two companies a?? GoodRx and AmerisourceBergen a?? were too caught up in the sell-off, according to SVB Leerink and Evercore, respectively. "Whenever Amazon launches a new endeavor, the immediate reaction is that it will destroy the existing industry, so this morning's sell-off is not surprising to us as investors shoot first and ask questions later," Anton Hie, a senior research associate at RBC Capital Markets, told investors in a note on Tuesday.
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