What Happened?
Shares of telehealth company Hims & Hers Health (NYSE: HIMS) jumped 3.8% in the afternoon session after the company announced its long-awaited entry into the testosterone replacement therapy market.
The telehealth platform is launching a new men's health category focused on personalized treatment plans for low testosterone, a condition affecting an estimated 20 million men in the U.S. Hims & Hers will immediately begin offering treatments like a compounded version of enclomiphene. Through a collaboration with Marius Pharmaceuticals, the company will also exclusively offer KYZATREX®, a needle-free, FDA-approved oral testosterone medication, beginning in 2026. This move marks a significant expansion of the company's core sexual health offerings into the fast-growing hormonal health category.
After the initial pop the shares cooled down to $49.34, up 3.3% from previous close.
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What Is The Market Telling Us
Hims & Hers Health’s shares are extremely volatile and have had 96 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 6 days ago when the stock gained 4.9% on the news that it continued a rally from the previous day fueled by strong revenue guidance and supportive analyst actions.
The stock gained over 8% after the company affirmed its fiscal year 2025 revenue forecast of $2.3 to $2.4 billion and provided a third-quarter revenue outlook between $570 million and $590 million. The positive momentum was also supported by Deutsche Bank, which raised its price target on the stock to $48, though it maintained a “Hold” rating.
Adding to the news, BofA Securities reiterated its "Underperform" rating but noted it was "incrementally positive" on the future of the company's GLP-1 franchise following recent developments. This commentary, despite the rating, appeared to provide further support for the stock's ongoing upward trend.
Hims & Hers Health is up 95.8% since the beginning of the year, but at $49.34 per share, it is still trading 28.2% below its 52-week high of $68.74 from February 2025. Investors who bought $1,000 worth of Hims & Hers Health’s shares 5 years ago would now be looking at an investment worth $4,495.
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