(Bloomberg) -- GoodRx Holdings Inc., which operates a telemedicine site and platform to track drug prices, rose as much as 50% in its trading debut after exceeding target on its U.S. initial public offering.

Shares of the Santa Monica, California-based company opened at $46 Wednesday in New York, 39% above its offer price. The company and its shareholders raised $1.14 billion selling 34.6 million shares at $33 apiece on Tuesday. That was above the marketed range of $24 to $28.

The shares were up 47% to $48.59 at 1:18 p.m., giving the company a market value of $18.7 billion.

The company reported $55 million in net income on revenue of $257 million for the six months ended June 30. That compared with $31 million on revenue of $173 million during the same period last year.

Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Barclays Plc led the share sale. GoodRx’s shares are trading on the Nasdaq Global Select Market under the symbol GDRX.

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