Morgan Stanley Reiterates Equalweight Rating on Hims and Hers (HIMS)

Morgan Stanley analyst Craig Hettenbach reiterated an Equalweight rating and $40.00 price target on Hims and Hers (NYSE: HIMS)

The analyst comments "Hims & Hers announced a planned expansion to Canada in 2026 with the intention to offer generic semaglutide, pushing further into international markets (see - Strategic tuck-in acquisition lays the groundwork to go deeper in Europe). The company is working with an approved partner to ensure compliance of laws and regulations of Canada after Novo recently lost patent protection in the country (LINK). By contrast, semaglutide comes off US patent protection in 2031. Hims CEO Andrew Dudum emphasized the angle of generic semaglutide in the press release on the back of an escalating dispute between Novo and Hims (see - Novo ends its collaboration with Hims & Hers). One of the most common questions we've been getting on HIMS is whether Novo will pursue litigation. For relevant background, please see Key Takeaways from Legal Experts on 503A Compounding Lawsuits and Mapping the legal landscape for Compounding Pharmacies post GLP-1 shortage. If Novo were to pursue legal action against HIMS on the grounds of unfair trade practices or patent infringement, it would likely be a lengthy process."

For an analyst ratings summary and ratings history on Hims and Hers click here. For more ratings news on Hims and Hers click here.

Shares of Hims and Hers closed at $51.24 yesterday.

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