NEW YORK, March 12, 2026, 09:13 EDT
Hims & Hers Health shares climbed 5.1% to $27.19 in premarket action as of 9:00 a.m. EDT on Thursday, following a 10.3% jump to $25.88 at Wednesday’s close. That put the telehealth company on track for its fourth consecutive advance.
This surge traces back to a shift in Hims’ weight-loss strategy—not just a flash of momentum. The company locked in a new agreement with Novo Nordisk, settling their patent fight and putting FDA-approved Wegovy and Ozempic back in Hims’ lineup. As a result, Hims will largely drop compounded GLP-1 offerings, moving further from pharmacy-crafted alternatives in favor of the branded drugs that treat obesity and diabetes. Hims says Novo’s treatments hit the platform later this month.
Analyst sentiment has shifted: Bank of America upgraded Hims to neutral from underperform, hiking its price target all the way to $23 from $12.50. Citigroup’s move—also to neutral—came with a $24 target. Over at Deutsche Bank, the price target climbed too, following the truce that eased some of the legal concerns.
BTIG’s David Larsen sees the deal as “clearly positive,” noting it sidesteps the headache of a lengthy court battle and possible moves by the FDA or Justice Department. Truist’s Jailendra Singh weighed in too—he pointed out that despite months of tension, “mutual necessity” kept both parties at the table. Reuters
For Hims, this marks more than just settling up. Chief Executive Andrew Dudum pointed to “tremendous growth opportunities” thanks to an expanded lineup of branded GLP-1 drugs, with cheaper cash prices opening up the self-pay segment. Novo’s move to slash some U.S. weight-loss drug prices down to $149–$299 is a play to grab share from Eli Lilly. Hims Inc.
After weeks in the red, the stock is climbing again. Hims booked 2025 revenue of roughly $2.35 billion, netted $128 million, and counted over 2.5 million subscribers. But the company’s Q1 revenue outlook—$600 million to $625 million—landed below what analysts had penciled in, with executives citing heavier product costs in its weight-loss segment.
Still, that bullish thesis faces some gaps. Analysts pointed out that while selling Novo’s branded drugs should boost revenue, those sales probably come with slimmer margins compared to compounded versions. There’s also skepticism Hims can stack up enough new branded subscribers to fully offset what it’s walking away from. In the 2025 annual report, Hims revealed the Securities and Exchange Commission is investigating its statements on compounded semaglutide. The company also said the U.S. Department of Health and Human Services sent a referral to the Justice Department over possible violations connected to those products.
Hims is bringing Wegovy pills and shots, plus Ozempic injections, to its platform before the month is out. The stock’s sudden surge this week puts the spotlight on that rollout—it’s the next big test for investors weighing if a straightforward, branded weight-loss play can keep propping up shares without triggering the kind of regulatory blowback that hammered Hims back in February.
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