Citi analyst Daniel Grosslight says Hims & Hers traded up 10% yesterday after Bloomberg noted the company is now offering branded Tirzepatide. The firm thinks Hims & Hers is offering the auto-injector pens for $1,900 per month, and not the lower priced Tirzepatide vials, which are priced as low as $349 per month on Eli Lilly’s (LLY) LillyDirect. Given Hims & Hers does not take insurance, the high cash price “will be prohibitive,” says Citi, which does not expect to see much uptake of Tirzepatide. On the sales the company’s does generate on branded Tirzepatide, the firm expects minimal margin as wholesale prices remain high. Citi keeps a Sell rating on Hims & Hers with a $27 price target.
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