Citi analyst Daniel Grosslight says Hims & Hers traded up 10% yesterday after Bloomberg noted the company is now offering branded Tirzepatide. The firm thinks Hims & Hers is offering the auto-injector pens for $1,900 per month, and not the lower priced Tirzepatide vials, which are priced as low as $349 per month on Eli Lilly’s (LLY) LillyDirect. Given Hims & Hers does not take insurance, the high cash price “will be prohibitive,” says Citi, which does not expect to see much uptake of Tirzepatide. On the sales the company’s does generate on branded Tirzepatide, the firm expects minimal margin as wholesale prices remain high. Citi keeps a Sell rating on Hims & Hers with a $27 price target.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HIMS:
- Sell Rating for Hims & Hers Health Amid Low Margin Concerns and Competitive Pricing
- Closing Bell Movers: nCino down 29% on earnings miss
- Eli Lilly says company has no affiliation with Hims & Hers
- ‘Don’t Fall for the Hype,’ Says Top Analyst about HIMS’ Decision to Sell Zepbound
- BofA says Hims & Hers Zepbound sales will be ‘immaterial’