Novo Partnership Fuels Long-Term Optimism for Hims & Hers Health, Inc. (HIMS)

Hims & Hers Health, Inc. (NYSE:HIMS) is among the 7 Best Stocks to Buy for Short Term. On March 27, Canaccord Genuity reiterated a Buy rating on Hims & Hers Health, Inc. (NYSE:HIMS) with a price target of $30. This reaffirmation comes after the company’s launch of Novo Nordisk weight-loss solutions on its platform. First announced on March 9, the partnership involves access to Wegovy and Ozempic injections across all dosage levels on its platform.

Canaccord Genuity highlighted that the revenue outlook appears challenged as the compounded-to-branded transition unfolds. Even then, the firm remains positive on Hims & Hers Health, Inc. (NYSE:HIMS) due to the Novo partnership, which it believes will contribute to the long-term growth momentum.

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A day earlier, BofA Securities maintained a Neutral rating and a price target of $23 on Hims & Hers Health, Inc. (NYSE:HIMS). This follows the company’s announcement related to its GLP-1 subscription service. The firm named many factors that create ambiguity, including whether a standalone margin exists for the medicine. That said, the firm views the company as transitioning from a low-cost provider to an average-cost provider of GLP-1 medications.

Hims & Hers Health, Inc. (NYSE:HIMS) is a California-based operator of a consumer-first health and wellness platform. The company provides a range of products and services, including curated prescription and non-prescription health and wellness.

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