Hims & Hers Health rose 6.46% intraday after Barclays analyst Glen Santangelo raised his price target to $39 from $29 and maintained an Overweight rating. Santangelo cited a clear inflection in the company's GLP-1 weight-loss business following its March partnership with Novo Nordisk, with website traffic accelerating 35% year-over-year in May and monthly active app users climbing 21%. Investors are also focused on an FDA Pharmacy Compounding Advisory Committee meeting scheduled for July 23-24 that will evaluate whether seven peptides should be added to the 503A bulk substances list, a decision that could open a new growth avenue beyond the core GLP-1 compounding business. The company recently appointed Dr. Anant Vinjamoori as Chief Medical Officer and completed its acquisition of Eucalyptus, expanding its presence across the US, UK, Australia, and Canada.
Hims Hers Health IncBarclays analyst raised price target to $39, citing inflection in GLP-1 business.
Barclays PLC
Novo Nordisk A/S