JPMorgan Initiates Hims & Hers with Overweight Rating, $35 Price Target — Stock Surges 9.6%
JPMorgan initiated coverage of Hims & Hers on April 24 with an Overweight (Buy-equivalent) rating and a $35 price target, citing the Novo Nordisk and Eli Lilly partnerships, progress toward peptide legalization, and a likely revenue rebound in H2 2026. Shares jumped about 9.6% intraday Friday, representing roughly 25% upside from Thursday's close. The note specifically called out the Novo Nordisk deal as 'a turning point' that resolves the company's prior legal overhang from compounded GLP-1 production.