HIMS
Not exactly a love letter
Leerink Partners just reiterated its Market Perform rating on Hims & Hers and left its $25 price target untouched. Translation: nice company, interesting peptide angle, but maybe don’t get too carried away just yet.
Why the market should care
The stock was last seen around $26.60, which puts it above Leerink’s target. That’s not a doom alarm by itself, but it does suggest the market may already be pricing in a decent chunk of the hype.
The peptide plot twist
This call comes after news of an upcoming Advisory Committee meeting on injectable peptides. In Hims land, that’s the kind of regulatory chatter that can send the stock jogging, then sprinting, then wheezing a little when analysts remind everyone that valuation still exists.
Big picture
Hims has been crushed by 59% over the past six months, so any hint of regulatory tailwind gets investors excited fast. But Leerink’s stance is basically: cool story, show me the follow-through. In other words, the company may have a hot narrative — but the stock still has to earn its keep.