Wall Street's read of Hims & Hers' Q1 print delivered May 11 split between two camps. JPMorgan trimmed its price target to $33 from $35 (Overweight reaffirmed) on what analysts called a 'mixed' quarter, citing gross margin compression from 73% to 65% on the wind-down of compounded semaglutide. Canaccord raised its target to $32 from $30 (Buy) framing the quarter as a transition speed bump rather than a thesis break. The central question both calls land on: whether branded Novo Nordisk Wegovy/Ozempic distribution (live since March 26) can offset margin loss from the compounded business. Q1 books closed March 31, so meaningful Wegovy revenue contribution comes in Q2; subscriber count held at 2.6M (+9% YoY).
Barclays analyst Emily Field raised her price target on Eli Lilly to $1,400 from $1,350 May 5 and reiterated an Overweight rating, citing tirzepatide momentum continuing to outpace the GLP-1 class and easing concerns around the Foundayo launch trajectory. LLY stock had recovered roughly 11% off the May 4 Foundayo FAERS-driven dip to about $966 by mid-week. Barclays simultaneously trimmed its 2026 Foundayo revenue estimate to approximately $1B (vs. ~$1.4B consensus) on the early IQVIA gap to Wegovy pill, but the higher headline target reflects confidence that Mounjaro and Zepbound's volume growth more than absorbs Foundayo's slower start.
Multiple Wall Street firms raised LLY price targets in the May 5–6 window. Cantor Fitzgerald lifted its target to $1,230, BofA to $1,294, and the broader analyst consensus by 19 firms now sits at $1,228 (24.15% upside over 12 months) per the May 6 update, with a Buy consensus rating. The driver: tirzepatide's Q1 +125% global growth, the Mounjaro/Zepbound volume re-rating, the May 1 stock recovery from the Foundayo hepatic-failure FAERS report, and Lilly's response that no DILI signal exists across the 11,000-patient ACHIEVE+ATTAIN program. RBC Capital framed the FAERS event as 'baseline noise.'