Citi says Hims & Hers, as widely anticipated, launched its GLP-1 offering this morning. The firm thinks the launch will significantly increase the interest in Hims & Hers’ weight loss offering. Interestingly, unlike a few competitors, Hims & Hers is only offering compounded GLP-1s for $199 per month, steering clear of the cost and access issues associated with branded offerings, notes Citi. “While we expect the stock to trade up on this launch given the GLP-1 halo effect, we caution investors that this is a risky move,” says the firm. Citi adds that management assured it the company is comfortable from a regulatory perspective. The firm keeps a Buy rating on the shares with a $16 price target. The stock in morning trading is up 29% to $18.87.
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