BofA raised the firm’s price target on Hims & Hers (HIMS) to $32 from $30 and keeps a Neutral rating on the shares after the company announced that its platform now offers access to Eli Lilly’s (LLY) Zepbound vials, KwikPen, and Foundayo. While noting that a footnote on the press release suggests there is no formal partnership and that any licensed healthcare professional can prescribe to the LillyDirect pharmacy, the broader distribution “could create goodwill,” says the analyst, who has “a neutral-to-positive view” on the news.
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Read More on HIMS:
- Hims & Hers initiated with an Overweight at JPMorgan
- Eli Lilly (LLY) Expands Partnership with Hims & Hers
- Hims & Hers likely to be up on LillyDirect announcement, says Leerink
- Hims & Hers enables Zepbound vials, KwikPen prescribing through LillyDirect
- Hims & Hers (HIMS) Gets Good News from the FDA. Is It Already Priced in?