BTIG Starts Hims and Hers (HIMS) at Buy

BTIG analyst David Larsen initiates coverage on Hims and Hers (NYSE: HIMS) with a Buy rating and a price target of $35.00.

The analyst comments "We are initiating coverage of Hims & Hers Health (HIMS) with a Buy rating. We like HIMS because of its disruptive business model approach that delivers health services to members through a non-traditional, direct-to-consumer, cash-pay approach. HIMS supports ~2M+ members (+44% y/y in 3Q:24), through a subscription-based model, and addresses health issues related to obesity, sexual health, mental health, dermatology, and other services. Demand for HIMS continues to be high, the home-grown Electronic Medical Record (EMR) seems comprehensive, and the business is well integrated with its 503A and 503B affiliated pharmacies. We expect revenue growth and demand for GLP-1 and obesity health products to remain robust, and the company seems well managed. We initiate coverage with a Buy rating given the earnings power and growth profile of the business."

For an analyst ratings summary and ratings history on Hims and Hers click here. For more ratings news on Hims and Hers click here.

Shares of Hims and Hers closed at $26.90 yesterday.

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