Key Highlights
- HIMS stock climbed 7% following the announcement of Eli Lilly’s Zepbound and additional GLP-1 weight loss treatments on its platform
- Healthcare providers using the platform now have access to prescribe Zepbound vials, KwikPen, and Foundayo through LillyDirect pharmacy
- The expansion builds on a previous partnership with Novo Nordisk for Wegovy injections and oral medications
- JPMorgan launched coverage with an “Overweight” designation and set a price target of $35
- JPM forecasts revenues climbing from $2.3B in 2025 to beyond $3.2B by 2027, with anticipated EBITDA reaching $414M
Shares of Hims & Hers Health surged 7% Thursday following the telehealth platform’s announcement that it would incorporate weight management drugs from pharmaceutical giant Eli Lilly.
Hims & Hers Health, Inc., HIMS
Medical professionals utilizing the Hims & Hers network now have the capability to prescribe Zepbound vials, KwikPen devices, and Foundayo. Patients can have these prescriptions fulfilled via the LillyDirect pharmacy, with direct-pay pricing structures available for Hims & Hers members.
The expansion provides licensed healthcare providers operating on the platform with streamlined access to FDA-cleared GLP-1 weight loss therapies.
This recent collaboration follows last month’s strategic partnership with Novo Nordisk. That agreement enabled Hims & Hers members to obtain Wegovy injections alongside oral treatment alternatives.
Combined, these partnerships signal a strategic transformation in the company’s approach to weight management services in the United States. Company representatives attribute this evolution to increasing consumer demand and shifting marketplace conditions surrounding GLP-1 medications.
The comprehensive weight management program features round-the-clock care team availability, customized nutritional guidance, ongoing clinical monitoring, and community-based support through its Weight Loss subscriber network.
According to Hims & Hers, the objective is to provide diverse treatment pathways customized to each patient’s unique medical background and wellness objectives.
JPMorgan Launches Coverage With Bullish Stance
The stock received additional momentum Friday when JPMorgan initiated research coverage with an “Overweight” recommendation and established a $35 price objective.
Analysts identified the Novo Nordisk collaboration as a pivotal development for the company’s weight management division, noting it minimizes regulatory exposure associated with compounded GLP-1 products while expanding access to brand-name medications.
JPMorgan calculates HIMS is positioned to surpass 100,000 Wegovy prescriptions monthly, representing an annualized revenue potential of approximately $350–$400 million from this single product.
The investment bank also highlighted peptide-based treatments as a significant long-term expansion avenue. With U.S. regulatory authorities potentially approving large-scale compounding for multiple peptides, Hims & Hers’ proprietary manufacturing capabilities could provide a competitive advantage.
Financial Projections and Future Trajectory
JPMorgan anticipates revenue expansion from $2.3 billion in 2025 to surpassing $3.2 billion by 2027, with EBITDA projected at $414 million. The company has publicly committed to maintaining annual revenue growth exceeding 20% through 2030.
Revenue acceleration is expected to intensify during the latter half of 2026 as emerging specialty areas mature and branded product offerings enhance customer profitability metrics.
Nevertheless, challenges persist. The equity ranks among the most heavily shorted within its sector. Market skepticism centers on decelerating growth rates, escalating customer acquisition expenses, and intensifying competition from Amazon and telehealth competitor Ro.
JPMorgan recognized these headwinds but maintained the current market valuation underestimates the company’s expansion trajectory.
HIMS currently supports approximately 2.5 million subscribers spanning weight management, sexual wellness, and dermatological services. Its fully integrated operational framework — encompassing healthcare providers, pharmacy services, and production facilities — was emphasized by JPMorgan as a fundamental competitive differentiator.
At the time of publication, Novo Nordisk (NVO) traded up 5.53% while Eli Lilly (LLY) declined 2.84% for the session.
