Hims & Hers Health ( (HIMS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Hims & Hers Health, Inc.’s stock has recently experienced significant volatility due to mixed developments impacting its market outlook. The stock faced downward pressure following the FDA’s announcement ending a shortage of a competitor’s weight loss drug, which hurt the market potential for Hims’ GLP-1 products. Despite this, Piper Sandler raised its price target, highlighting strong demand and revenue growth prospects. BTIG also initiated coverage with a positive outlook on the company’s direct-to-consumer model. In contrast, Citi downgraded the stock to Sell, pointing to changing market dynamics. BofA expressed worries about the potential shortening of the semaglutide compounding opportunity, leading to increased put trading activity and a bearish sentiment among investors.
More about Hims & Hers Health
YTD Price Performance: 2.10%
Average Trading Volume: 16,141,946
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $5.62B
For further insights into HIMS stock on TipRanks’ Stock Analysis page.
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