Leerink Partners analyst Michael Cherny has maintained their neutral stance on HIMS stock, giving a Hold rating on February 21.
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Michael Cherny’s rating is based on the recent developments at Hims & Hers Health, particularly their expansion into the at-home lab testing market. While this move aligns with the company’s strategy of broadening their service offerings, the at-home lab testing market itself has not been a major growth area historically. Established players like DGX and LH already have a significant presence, and previous standalone companies have struggled to maintain growth.
Despite the potential for Hims & Hers to leverage this expansion into differentiated growth, the current outlook remains uncertain until more information is available. Cherny highlights that the company’s future earnings and stock performance are likely tied to the growth of their GLP-1 offerings and their long-term financial guidance. Until these factors become clearer, a Hold rating reflects the need for more concrete data to assess the impact of the company’s strategic expansion.
HIMS’s price has also changed dramatically for the past six months – from $16.560 to $68.740, which is a 315.10% increase.