Hims & Hers (HIMS) Soars 57.4% on New Deal

Core Viewpoint - Hims & Hers Health Inc. experienced a significant share price increase of 57.4% week-on-week, primarily due to a renewed partnership with Novo Nordisk and analysts upgrading their price targets for the stock [1]. Partnership and Strategy - Hims & Hers announced a new partnership with Novo Nordisk, which involves discontinuing the sale of compounded versions of Wegovy and Ozempic. The company will only provide access to its own GLP-1 if customer needs cannot be met with FDA-approved versions and if deemed clinically necessary by a provider [2]. Analyst Upgrades - Following the partnership announcement, Hims & Hers received upgraded price targets from three investment firms: Deutsche Bank raised its target to $28 from $25, Citigroup increased its target to $24 from $13.25, and Bank of America set a new target of $23, up from $12.50 [3]. - Citigroup and Bank of America also upgraded their ratings to "neutral" from "sell" and "underperform," respectively [4].