Hims and Hers (HIMS) PT Raised to $61 at Needham

Needham analyst Ryan MacDonald raised the price target on Hims and Hers (NYSE: HIMS) to $61.00 (from $31.00) while maintaining a Buy rating.

The analyst comments "We reiterate our Buy rating & raise our PT to $61 on HIMS following the company's strong 4Q results. Shares of HIMS have sold off since the FDA announced last week that the semaglutide shortage is over. While this shortens the runway for rev. generation for the commercially available doses, HIMS sees a durable weight loss rev. stream throughout FY25 via a combination of personalized semaglutide, oral weight loss offerings, & generic liraglutide, which will launch in early 2H. As a result, HIMS set FY25 guidance well above consensus, assuming $725mm of weight loss revs, which is above the bull case scenario we outlined in our 2025 top pick report. As such, we see no reason to change our view & remain buyers on weakness of HIMS, given the continued healthy growth in the non-weight business (35%+ in FY25) and durable weight loss rev stream."

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