Citi analyst Daniel Grosslight has maintained their bearish stance on HIMS stock, giving a Sell rating on November 4.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Daniel Grosslight has given his Sell rating due to a combination of factors impacting Hims & Hers Health. One of the primary concerns is the competitive pricing pressure from TrumpRx, which has negotiated significantly lower prices for GLP-1 medications. These lower prices present a threat to Hims & Hers’ compounded GLP-1 offerings, which are a substantial part of their revenue.
Despite the fact that Hims & Hers remains the cheapest option, the anticipated price reductions in the market, especially with the introduction of oral GLP-1s, could further erode their competitive advantage. Additionally, the expected share price return is projected to decline by 31.4%, reinforcing the Sell recommendation. These factors combined suggest a challenging market environment for Hims & Hers Health, prompting the cautious outlook from Grosslight.
In another report released on November 4, Bank of America Securities also maintained a Sell rating on the stock with a $32.00 price target.
Based on the recent corporate insider activity of 221 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HIMS in relation to earlier this year.