Post-PCAC Analyst Perspective on Hims & Hers Health (NYSE: HIMS): BofA Securities Raised Price Target to $36 and Canaccord Genuity Raised to $40 on the Peptide-Compounding Opportunity Estimated at Approximately $440 Million in 2027 Sales From the Four Recommended Compounding Peptides, While Truist Held at $23 Citing the 6-18 Month FDA Rulemaking Timeline and Uninsured-Patient Concerns; Peptide Catalyst Lift Tempered by the Advisory-Vote Nature of the July 23-24 PCAC 6-of-7 Outcome Because Compounding Pharmacies Still Cannot Legally Prepare BPC-157, KPV, TB-500, MOTS-c, Semax, or Epitalon Under Section 503A Today
Post-PCAC analyst coverage of Hims & Hers Health (NYSE: HIMS) split on the July 23-24 Pharmacy Compounding Advisory Committee (PCAC) 6-of-7 outcome. BofA Securities raised its price target to $36 on the peptide-compounding opportunity, and Canaccord Genuity raised to $40, both citing the July 23-24 PCAC vote and the Hims & Hers acquired California peptide manufacturing facility. Analysts estimate the four Day-1 recommended peptides (BPC-157, KPV, TB-500, MOTS-c) could generate approximately $440 million in Hims & Hers sales by 2027 if the FDA follows through with 503A rulemaking. Truist Securities held at $23 citing the 6-18 month FDA rulemaking timeline and continued uninsured-patient exposure. Barclays sits at $39 (Novo Nordisk partnership thesis). The peptide catalyst lift is tempered by the advisory-vote nature of the PCAC outcome: compounding pharmacies still cannot legally prepare BPC-157, KPV, TB-500, MOTS-c, Semax, or Epitalon under Section 503A today because none of the six substances are on the 503A Bulks List. FDA rulemaking to add each substance takes 6-18 months from the date the agency decides to act. Hims shares closed near $28.50 last week after briefly rallying above $35 on the initial vote outcome.