Hims & Hers Stock Rallies on FDA Peptide Review, Leerink Analyst Calls Move a “Clear Positive”

Hims & Hers Health (HIMS) stock jumped 10.1% on Wednesday after the FDA announced a review of several injectable peptides. Following the news, Leerink Partners analyst Michael Cherny reiterated a Hold rating and $25 price target on the stock, citing the move as a “clear positive” for the company, but not enough yet to change the stock’s outlook.

The FDA plans to hold an Advisory Committee meeting to decide whether to lift restrictions on seven peptide treatments, including those for obesity, insomnia, migraines, and wound healing. For Hims, which has been preparing to enter the peptide market once rules ease, this could open an important new growth opportunity.

Key Benefits Highlighted by the Analyst

The four-star analyst said that if the FDA gives a positive recommendation, Hims would be able to use the peptide facility it bought last year and move quickly once the rules change. He added that peptides could help “fill the growth hole” created as Hims shifts away from compounded GLP‑1 drugs and toward commercial versions, which come with lower margins.

The analyst also warned that it will take time before peptides make a real impact on revenue. However, he expects Hims would “push hard” to grow the category once the door opens.

For now, Cherny said he is waiting to see how the Advisory Committee evaluates the peptides before updating his forecasts. But he noted that the FDA’s move could become an important long‑term catalyst for Hims, especially as the company shifts its weight‑loss business toward commercial GLP‑1 drugs.

Is HIMS Stock a Good Buy?

Overall, Wall Street analysts have a Moderate Buy consensus rating on HIMS stock based on four Buys and 10 Holds assigned in the last three months. The average HIMS stock price target of $26.90 implies an upside of 3.38% from the current trading level.