BTIG Reiterates Buy Rating on Hims and Hers (HIMS)

BTIG analyst David Larsen reiterated a Buy rating and $60.00 price target on Hims and Hers (NYSE: HIMS).

The analyst comments "Several news agencies are reporting that Hims has dropped its plans for a compounded semaglutide pill, starting at $49 per month. A statement on "X," from Hims and Hers Comms states "Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry. As a result, we have decided to stop offering access to this treatment. We remain committed to the millions of Americans who depend on us for access to safe, affordable, and personalized care." This comes shortly after announcing the product and shortly after the FDA sated that it would take action against non-FDA Approved GLP-1 drugs. Our view is that the FDA is indeed ramping up enforcement against GLP-1 compounding pharmacies and these actions could potentially include restricting access to certain ingredients to some compounding pharmacies. Some news agencies are also reporting potential other regulatory enforcement actions by the FDA against compounding pharmacies as well."

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 $23.02 yesterday.

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