Hims & Hers Health (HIMS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Ryan MacDonald from Needham reiterated a Buy rating on the stock and has a $61.00 price target.
Ryan MacDonald has given his Buy rating due to a combination of factors that highlight the promising future of Hims & Hers Health. The company recently reported strong fourth-quarter results, which have led to an optimistic outlook for fiscal year 2025. Despite a recent decline in stock price following the FDA’s announcement regarding the semaglutide shortage, Hims & Hers Health is expected to maintain a robust revenue stream from weight loss products.
MacDonald notes that the company plans to offer a range of weight loss solutions, including personalized semaglutide, oral weight loss products, and a new generic liraglutide set to launch in the second half of the year. This diversified approach is expected to generate significant revenue, with the company setting a guidance of $725 million for weight loss revenue in FY25, surpassing previous expectations. Additionally, the non-weight loss segment is projected to grow by more than 35% in FY25, further supporting the Buy rating.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $85.00 price target.
Based on the recent corporate insider activity of 250 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HIMS in relation to earlier this year.