BofA raised the firm’s price target on Hims & Hers to $22 from $21 and keeps an Underperform rating on the shares. February observed sales per Bloomberg Second Measure data suggests GLP-1 sales growth is accelerating, supporting near-term upside to Street estimates, the analyst tells investors. Observed sales grew 124% year-over-year in February, or 132% excluding last year’s leap day, with GLP-1s accounting for about 45% of gross online sales, according to the data, reported the analyst, who “slightly” raised estimates.
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Read More on HIMS:
- Sell Rating for Hims & Hers Health Amid Slowing Core Business Growth and Legal Challenges
- Hims & Hers Health’s (HIMS) App Downloads Surged in February, Says Top Analyst
- FDA voices ‘concerns’ with unapproved GLP-1 drugs used for weight loss
- Hims & Hers app download pace accelerated in February, says Morgan Stanley
- Hims & Hers Health: Balancing Growth Momentum with Competitive Challenges
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