Citi lowered the firm’s price target on Hims & Hers to $16.50 from $30 and keeps a Sell rating on the shares. The firm believes the company’s “risky and aggressive” oral semaglutide launch brings more legal risk. The new price target reflects a 25% bear case probability of Hims & Hers losing all weight loss drug sales, a 60% base case probability of the company losing half of the sales, and a 15% bull case probability of limited GLP-1 downside from the legal challenges, the analyst tells investors in a research note.
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Read More on HIMS:
- Hims & Hers price target lowered to $21 from $26 at BofA
- Regulatory Overhang on Compounded GLP‑1 Drives Hold Rating and Lowered Outlook for Hims & Hers
- HIMS Stock Drops, NVO Jumps after Hims & Hers Halts Selling $49 Wegovy Copy
- Hims & Hers to stop offering access to semaglutide pill
- Hims & Hers (HIMS) Shares Sink 16% as FDA Crackdown Halts Wegovy Copycat Pill