Hims & Hers Health (HIMS) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might help the stock continue moving higher in the near term.
Hims & Hers (NYSE:HIMS) shares surged after it announced a partnership with Novo Nordisk that will allow it to offer the drugmaker's weight loss product Wegovy through its telehealth platform. Investors welcomed the collaboration, which positions Hims & Hers to participate directly in the fast-growing market for GLP-1 weight-loss drugs.
Hims & Hers on Tuesday announced a collaboration with drugmaker Novo Nordisk to bundle Wegovy and a Hims & Hers membership on its telehealth platform.
Hims & Hers Health Inc (NYSE:HIMS) stock is soaring today, up 22.6% at $34.92 at last glance, after news that the telehealth platform will offer Novo Nordisk's (NVO) popular weight-loss drug, Wegovy.
Hims & Hers Health, Inc. just announced a partnership with Novo Nordisk, Ro and LifeMD to sell their Wegovy at a discounted price. The deal is a game changer, enabling Hims to offer Wegovy at $599/month versus $1,999/month. I think this deal hints at potential to do the same with Ozempic further boosting the stock, which is already up +30% in pre-market trading.
Summary ⚈ HIMS stock surged up to 45% after announcing a partnership with Novo Nordisk to offer Wegovy through its platform.⚈ The move positions Hims & Hers to capitalize on booming demand for weight-loss medications.
Novo Nordisk said it will offer its weight loss drug Wegovy through telehealth providers Hims & Hers Health, Ro and Life MD. The Danish drugmaker is racing to capture more patients now that many compounding pharmacies are legally restricted from making cheaper, unapproved versions of Wegovy, with rare exceptions.
Hims & Hers boasts excellent underlying performance, but the stock's current valuation remains uncomfortably high. Despite a 40% drop in stock price, shares are not yet a value, and selling put options offers a better risk/reward. Selling the August, $18-strike put options yields 27.7% annualized, providing a robust yield, and a potentially stronger entry point at a more attractive valuation.
Hims & Hers Health (HIMS) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
In the closing of the recent trading day, Hims & Hers Health, Inc. (HIMS) stood at $28.10, denoting a -0.14% change from the preceding trading day.
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Recently, Zacks.com users have been paying close attention to Hims & Hers Health (HIMS). This makes it worthwhile to examine what the stock has in store.