Hims and Hers (the alternate spelling) covers the same company as #hims-hers — the telehealth platform that built much of its weight-loss business on compounded GLP-1s during the FDA's 2022–2024 shortage window.
What's happened since: Outsourcing Facilities Association litigation, the April 30, 2026 FDA proposal to exclude branded GLP-1s from the 503B bulks list, secret-shopper research on telehealth peptide programs that kept selling after warning letters, and Hims & Hers' own pivot toward additive formulations and broader peptide therapy programs.
Stories here cover the compounding strategy, regulatory exposure, and quarterly numbers. See #hims-hers for the canonical thread and #telehealth for the broader category.
Barclays raised its price target on Hims & Hers Health (NYSE: HIMS) to $39 from $29 on June 17, citing improved customer-momentum signals from alternative data since the March 9 Novo Nordisk collaboration announcement and the upcoming peptide-catalyst opportunity tied to the July 23-24 PCAC meeting. The firm maintained an Overweight rating; the $39 target implies roughly 21% upside from the prior close. HIMS gained about 6% on the day. Leerink reiterated Market Perform with a $25 PT ahead of the same PCAC meeting, framing potential PCAC approval as an upside catalyst for Hims' growth outlook beyond 2027. Hims acquired a California peptide manufacturing facility in 2025 and added in-house lab testing capacity ahead of the regulatory window.
Hims & Hers' proxy report ahead of the June 11 virtual annual meeting shows 2025 revenue at $2.35 billion (up 59%), 2.5 million-plus subscribers, $318 million adjusted EBITDA, and $300 million operating cash flow. The company's GLP-1 pivot now leans on the Lilly tie-up (Zepbound vials and KwikPens, plus Foundayo via LillyDirect; Bank of America lifted its price target to $32) and the renewed Novo Nordisk partnership for branded Wegovy. The compounded-semaglutide business is winding down ahead of the FDA 503B exclusion that becomes effective after the June 29 comment window closes.
The FDA announced steps to restrict compounded GLP-1 products, specifically naming Hims & Hers. Novo Nordisk has also sued Hims & Hers over compounded semaglutide.
Hims & Hers stock briefly rallied on reports the FDA may ease peptide restrictions, but gains reversed. The company had proactively acquired a peptide production facility in California in 2025.
Digital health companies are betting on peptides as the next big wellness category. They're banking on HHS Secretary RFK Jr. getting the FDA to lift restrictions on certain peptides.