Hims & Hers Health (HIMS) Stock Today, November 23, 2025: Price, Buyback and GLP‑1 Risks

Hims & Hers Health (NYSE: HIMS) heads into the new week as one of the market’s most closely watched telehealth and weight‑loss plays — but also one of its most volatile.

After Friday’s session (21 November 2025), HIMS closed at $34.71, up about 3.2% on the day. That puts the stock roughly 43–44% higher year‑to‑date, yet still almost 50% below its 2025 peak near $73. ^[1]

For today, 23 November 2025, the key fresh story isn’t a new earnings report or regulatory bombshell. Instead, the weekend news flow centers on:

• A new institutional buyer disclosed in a MarketBeat report.
• The $250 million share repurchase program announced earlier this week.
• A deepening GLP‑1 price war, highlighted in a new Motley Fool / Nasdaq piece on Novo Nordisk’s latest moves — with Hims & Hers explicitly cited as a key telehealth competitor. ^[2]

Below is a detailed rundown of where HIMS stands today and what this weekend’s headlines mean if you’re tracking the stock.

Key takeaways for HIMS on November 23, 2025

• Share price & volatility: Hims & Hers closed Friday at $34.71, about 3.2% higher on the day, but still down roughly 36–37% over the past six months and nearly 50% below its 2025 high around $72.98. ^[3]
• Valuation snapshot: As of this weekend, HIMS carries a market cap of roughly $8.6 billion, trades on about 64x trailing earnings, and around 4x trailing 12‑month revenue of $2.21 billion. ^[4]
• New buyback authorization: On 17 November 2025, Hims & Hers’ board approved a $250 million share repurchase program over the next three years, which management says is meant to capitalize on “valuation disconnects” and is backed by a strong balance sheet. ^[5]
• Fresh investor activity today: A new Journey Strategic Wealth LLC filing shows the firm opened a Q2 position of 8,928 HIMS shares (≈$445k), even as MarketBeat highlights heavy insider selling — about 630,583 shares worth roughly $33.5 million over the past three months — and notes the buyback could retire roughly 3% of shares outstanding. ^[6]
• Fundamental momentum: Q3 2025 revenue came in just shy of $599 million, up 49% year‑on‑year, with subscribers reaching 2.47 million and monthly online revenue per subscriber climbing to $80, while management narrowed full‑year revenue guidance to $2.335–$2.355 billion and guided full‑year adjusted EBITDA to $307–$317 million. ^[7]
• GLP‑1 price war intensifies: A new Nasdaq/Motley Fool article today details how Novo Nordisk is cutting cash‑pay prices for Wegovy and Ozempic to $349 per month (down from $499), partly to counter telehealth players like Hims & Hers, which charges as little as $199 per month for compounded semaglutide. ^[8]
• Regulatory and legal overhang: The company is still living with the fallout from Novo Nordisk’s June 23, 2025 termination of their Wegovy partnership, which triggered a 30–35% single‑day share price plunge and has since led to securities class‑action filings and reports of FTC scrutiny over Hims & Hers’ advertising and subscription practices. ^[9]

HIMS stock price snapshot: where shares sit now

From a pure pricing and return perspective, Hims & Hers is a study in extremes:

• Last close (21 Nov 2025): $34.71
• 1‑day move: +3.24%
• 52‑week range: about $23.97–$72.98 (roughly a 3x swing) ^[10]
• Returns (as of Nov 23, 2025):
  • 1 month: ≈ ‑28%
  • 6 months: ≈ ‑37%
  • Year‑to‑date: ≈ +43.6%
  • 1 year: ≈ +37% ^[11]

PortfoliosLab data also shows a current drawdown of about 49.5% from all‑time highs and a maximum historical drawdown of roughly 87%, underlining just how wild the ride has been for long‑term holders. ^[12]

On valuation:

• Market cap: ≈ $8.63 billion
• EPS (TTM): ≈ $0.54
• P/E (TTM): ≈ 64x
• Trailing 12‑month revenue: ≈ $2.21 billion

That implies a price‑to‑sales multiple in the ~4x range, which is elevated relative to many traditional healthcare providers but more typical of high‑growth digital platforms. ^[13]

MarketBeat’s live snapshot pegs HIMS with: ^[14]

• A 52‑week range of $23.03–$72.98 (very close to PortfoliosLab’s data)
• A P/E ratio of ~64.28
• A consensus analyst price target around $45–46 and an overall “Reduce” or “Hold‑leaning” rating, reflecting the tug‑of‑war between bulls and bears.

Today’s fresh news: new buyer, old sellers and a still‑young buyback

Journey Strategic Wealth steps in

The most explicitly date‑stamped HIMS news for November 23, 2025 is a new MarketBeat alert detailing a Q2 position initiated by Journey Strategic Wealth LLC. The firm bought 8,928 HIMS shares, valued at around $445,000 at the time of the filing. ^[15]

The article also calls out other notable institutional holders, including Nuveen, the State of Michigan Retirement System, Jump Financial, and Northern Trust, which have all taken or increased positions earlier in 2025 — a reminder that HIMS is heavily owned and traded by professional money managers. ^[16]

Heavy insider selling vs. a $250 million buyback

The same MarketBeat piece, however, underlines a more cautious signal: insiders have sold heavily into the recent volatility: ^[17]

• CFO Oluyemi (Yemi) Okupe sold 145,000 shares.
• CEO Andrew Dudum sold 128,127 shares.
• In total, insiders offloaded around 630,583 shares worth roughly $33.5 million over the past three months.

Insiders still own about 13.7% of the company, but the selling spree, alongside the stock’s sharp pullback, has fueled debate over how confident management really is.

Part of the answer came on November 17, when Hims & Hers announced that its board had authorized a $250 million share repurchase program. The company said the plan — running over three years — is designed to give it flexibility to buy back stock when it believes the market price underestimates the long‑term story, leveraging what it calls a “strong balance sheet.” ^[18]

MarketBeat estimates that $250 million equates to about 3% of the current share count, so the program is meaningful but not transformative on its own. ^[19]

For investors, the conflicting signals boil down to this:

• Insiders have been de‑risking personally, locking in gains after a massive multi‑year rally.
• The company itself is now prepared to be a net buyer, at least opportunistically, if the share price stays depressed.

The balance between those two forces will likely be a key driver of sentiment into year‑end.

Under the hood: Q3 2025 results and guidance

Despite the drama around GLP‑1 drugs and regulatory headlines, Hims & Hers continues to post very strong top‑line growth.

From the Q3 2025 earnings release and subsequent coverage: ^[20]

• Revenue:
  • $599.0 million in Q3 2025 vs. $401.6 million a year earlier (+49% YoY).
• Subscribers:
  • 2.47 million at quarter‑end, up 21% YoY.
• Monthly online revenue per average subscriber:
  • $80, up 19% from $67 a year earlier.
• Profitability and cash flow:
  • Net income: about $15.8 million (down from a tax‑boosted $75.6 million in Q3 2024).
  • Adjusted EBITDA: about $78.4 million, up from $51.1 million.
  • Operating cash flow: about $148.7 million.
  • Free cash flow: roughly $79.4 million, flat year‑on‑year as the company reinvests heavily.

On the outlook side, management guided for: ^[21]

• Q4 2025 revenue:$605–$625 million.
• Q4 adjusted EBITDA:$55–$65 million, implying a 9–10% margin.
• Full‑year 2025 revenue:$2.335–$2.355 billion.
• Full‑year 2025 adjusted EBITDA:$307–$317 million, or about a 13% margin.

A Reuters write‑up noted that Q3 revenue beat analyst expectations (≈$580 million), but adjusted EPS of $0.06 fell short of the $0.10 consensus, and management flagged increased investment in infrastructure, diagnostics and international expansion — which some traders interpreted as near‑term margin pressure. ^[22]

Analyst commentary from outlets like TipRanks and MarketBeat has framed the post‑earnings sell‑off as a classic “growth vs. profitability” tug‑of‑war:

• Bulls point to rapid subscriber growth, rising ARPU, strong cash generation and a growing platform that now spans hair loss, sexual health, mental health, dermatology, testosterone therapy, menopause care and diagnostics. ^[23]
• Bears worry that Hims & Hers is too dependent on GLP‑1 weight‑loss plans, is investing at exactly the moment regulatory scrutiny is rising, and still trades at a premium multiple that could compress further if the narrative cools. ^[24]

GLP‑1 battleground: Novo Nordisk’s price cuts and what they mean for HIMS

Today’s other big storyline for HIMS isn’t directly about the company — it’s about Novo Nordisk, one of its most important partners‑turned‑rivals.

A fresh Nasdaq / Motley Fool article dated November 23, 2025 highlights that Novo Nordisk is slashing self‑pay prices on its GLP‑1 drugs: ^[25]

• Existing cash‑pay patients will now pay $349/month for FDA‑approved Ozempic and Wegovy, down from $499 (excluding a specific high dose of Ozempic).
• First‑time patients will pay $199 each for their first two doses.

The same piece explicitly points to telehealth providers like Hims & Hers, which have been selling compounded semaglutide for as little as $199/month, as part of the competitive pressure that forced Novo to get more aggressive. ^[26]

For Hims & Hers, this shift cuts both ways:

• Margin pressure: Hims’ GLP‑1 business has enjoyed a clear price advantage versus branded drugs. As Novo narrows that gap, some patients may prefer FDA‑approved injectables or, potentially, oral semaglutide if/when tablets are approved, which could squeeze Hims’ pricing power and margins on compounded products. ^[27]
• Bigger market, less stigma: Cheaper branded GLP‑1s could expand the total pool of weight‑loss patients, and telehealth platforms like Hims may ultimately benefit if they’re able to distribute branded treatments or bundle them with coaching, diagnostics, and subscription services.
• Regulatory risk re‑centered: A price war makes it harder to justify compounded semaglutide if the FDA decides to take a tougher stance. Novo has already accused Hims & Hers of “illegal” mass compounding and “deceptive marketing” — allegations the company rejects — and class‑action lawsuits now echo some of those themes. ^[28]

In short, the GLP‑1 story is becoming more complex, not less. Hims & Hers is no longer the only low‑cost option in town, and the regulatory spotlight is growing brighter.

2025 flashbacks: Wegovy breakup, Apostrophe shutdown and lawsuits

A big part of understanding HIMS today is remembering what happened earlier this year.

June 23: Novo Nordisk ends the Wegovy collaboration

On June 23, 2025, Novo Nordisk abruptly terminated its short‑lived Wegovy partnership with Hims & Hers, accusing the telehealth firm of continuing to sell unlawful compounded versions of semaglutide and engaging in deceptive marketing. ^[29]

• Hims & Hers shares plunged 30–35% in a single session. ^[30]
• Novo argued that Hims’ compounding practices were no longer legal once GLP‑1 shortages ended.
• Hims CEO Andrew Dudum publicly pushed back, accusing Novo of trying to “strong‑arm” the company into steering patients to branded Wegovy regardless of clinical need. ^[31]

Since then, the fallout has included:

• Class‑action lawsuits brought by firms such as Hagens Berman, which allege that Hims & Hers misled investors about the GLP‑1 business and the Novo partnership. ^[32]
• Reports that the FTC is investigating Hims & Hers over its advertising and subscription cancellation practices, adding another layer of regulatory risk. ^[33]

These are allegations, not proven findings, but they remain a meaningful overhang for the stock.

March 7: shutting down dermatology brand Apostrophe

Earlier in the year, Hims & Hers said it would wind down Apostrophe, its personalized acne‑treatment dermatology business, to simplify operations and consolidate dermatology offerings under one platform. ^[34]

Reuters noted that this decision came after Hims’ share price had already fallen more than 45% from earlier levels, as investors worried about the end of GLP‑1 shortages and the future of compounded weight‑loss drugs. ^[35]

Together, these moves paint a picture of a company:

• Refocusing its portfolio,
• Doubling down on core subscription services and GLP‑1 programs, and
• Navigating intense regulatory and legal scrutiny.

Risk and reward: what the numbers say about HIMS’ profile

From a portfolio‑construction point of view, HIMS is quintessential high beta:

• Beta: MarketBeat cites a beta of about 2.2, implying the stock tends to move roughly twice as much as the broader market on a daily basis. ^[36]
• Sharpe ratio: PortfoliosLab calculates a 1‑year Sharpe ratio around 0.41, below the S&P 500’s 0.59, meaning investors have been paid less return per unit of volatility than they would’ve gotten simply owning the index. ^[37]
• Drawdowns: The maximum historical drawdown of ≈87% and current mark of ≈50% below highs show that big boom‑and‑bust cycles are part of the HIMS experience, not an anomaly. ^[38]

On the other hand:

• Revenue growth is still exceptional (Q2 revenue up 73% YoY, Q3 up 49% YoY). ^[39]
• The company remains free‑cash‑flow positive and is now using that cash to authorize buybacks, even as it invests heavily in logistics, compounding capacity, labs and international expansion. ^[40]

This mix explains why analyst sentiment is divided:

• TS2’s November 18 overview cites TipRanks data showing a consensus “Hold” rating with 10 analysts recently covering the stock (2 Buys, 6 Holds, 2 Sells) and an average price target around $48–49, implying notable upside from current levels — but with wide disagreement. TechStock²

New policy muscle: Deb Autor joins as Chief Policy Officer

Another important update from this week — highly relevant to the regulatory narrative — is the appointment of Deb Autor as Hims & Hers’ first‑ever Chief Policy Officer.

On November 17, 2025, the company announced that Autor, a former senior FDA official and global regulatory executive at AstraZeneca, will lead global policy, regulatory and government affairs while continuing to serve on Hims’ board. ^[41]

Reuters framed the move as an attempt to scale Hims & Hers’ engagement with regulators and policymakers after the FDA criticized elements of its marketing and as the company pivots to “personalized” semaglutide dosing following the crackdown on mass‑produced copies. ^[42]

For investors, the hire signals two things at once:

1. The regulatory stakes are high enough that Hims & Hers needs C‑suite‑level leadership focused on policy and compliance.
2. Management appears intent on professionalizing and de‑risking how it deals with the FDA, FTC and other authorities, which could reduce headline risk over time if successful.

What to watch next if you follow HIMS

Looking beyond today’s headlines, a few themes are likely to drive Hims & Hers’ stock into 2026:

1. Execution of the $250M buyback
   • How quickly does the company actually repurchase shares, and at what price levels?
   • Future 10‑Q and 10‑K filings will make it clear whether the authorization is mostly a signaling tool or a real capital‑return lever. ^[43]
2. GLP‑1 pricing and regulatory environment
   • Whether Novo Nordisk’s price cuts spark a broader GLP‑1 price war and how Hims responds with its compounded offerings. ^[44]
   • Any new FDA guidance or enforcement around compounded GLP‑1 medications and telehealth prescribing. ^[45]
3. Growth of non‑weight‑loss verticals
   • Expansion of testosterone therapy, perimenopause/menopause solutions, diagnostics, and “longevity” programs, which analysts view as key to proving Hims is more than just a GLP‑1 trade. ^[46]
4. International rollout
   • Integration of the Zava acquisition, expansion across the U.K., Germany, France and Ireland, and the more recent launch in Spain and planned entry into Canada — which management believes could collectively support over $1 billion in annual international revenue over time. ^[47]
5. Legal outcomes and policy signaling
   • Progress (or lack thereof) in the securities class actions and any further disclosures regarding FTC or other investigations. ^[48]
   • How visible Deb Autor becomes as a spokesperson and what that signals about the company’s regulatory posture. ^[49]

Bottom line for Hims & Hers stock on November 23, 2025

As of today, Hims & Hers sits in a classic high‑growth, high‑risk sweet (or sour) spot:

• The underlying business is scaling rapidly, with revenue approaching a $2.3+ billion annual run rate, subscribers and ARPU climbing, and free cash flow funding both expansion and shareholder returns. ^[50]
• The stock has already been repriced sharply lower from its 2025 highs, and the company now has an active buyback authorization plus new institutional interest, as highlighted in today’s Journey Strategic Wealth filing. ^[51]
• At the same time, HIMS remains deeply exposed to GLP‑1 pricing, regulatory scrutiny and ongoing litigation, and trades at a premium valuation that leaves limited room for execution missteps. ^[52]

For investors and traders watching the name this weekend, the story on 23 November 2025 is less about a dramatic new company announcement and more about how today’s institutional flows, buyback plans and GLP‑1 price war headlines fit into an already volatile, highly narrative‑driven stock.

This overview is informational and not financial advice. Anyone considering HIMS should carefully review the company’s own filings, risk factors and earnings calls, and consider their risk tolerance and time horizon before making decisions.

References

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