Latest news with #HimsHers
Globe and Mail
5 hours ago
- Business
- Globe and Mail
Hims & Hers (HIMS) Lays Off 4% of Workforce Post Ban on Weight-Loss Drug Copies
Telehealth company Hims & Hers Health (HIMS) is reducing its workforce by 4%, impacting 68 of its over 1,600 global employees, according to a Bloomberg report. This move comes after a recent U.S. ban on the mass production of compounded versions of the weight-loss drug Wegovy. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter While the company confirmed the layoffs, it clarified that these job cuts were not directly related to the compounding ban but rather to improve operational efficiency across various teams. Hims stated that these changes would not affect its strategic priorities or the medical specialties it serves and that it still intends to hire for roles aligned with its long-term growth strategy. Hims Hit Hard by Wegovy Ban Hims & Hers is facing challenges after the U.S. Food and Drug Administration banned compounded copies of Novo Nordisk's (NVO) Wegovy on May 22, 2025. Since the ban, HIMS stock has declined about 14%. Hims had offered cheaper versions of Wegovy, which helped boost subscriptions and drive strong revenue growth in 2024. With the ban, the company loses a key revenue stream. To mitigate this, Hims is shifting focus to low testosterone and menopause treatments while partnering with Novo Nordisk to help patients access brand-name Wegovy at discounted rates. Analysts Bearish on HIMS Stock Post Ban Following the ban, two analysts reiterated a Sell rating on HIMS stock. Among them, BofA analyst Allen Lutz noted that Hims & Hers' sales growth is slowing. Also, sales of GLP-1 drugs, such as compounded semaglutide, dropped for the second month in a row. The Top-rated analyst believes that if sales of compounded semaglutide weaken further in May and June, HIMS would need stronger growth in its core business and brand-name Wegovy sales to offset losses, which the analyst warns could be difficult. Is HIMS Stock a Good Buy? Turning to Wall Street, HIMS stock has a Hold consensus rating based on two Buys, seven Holds, and two Sells assigned in the last three months. At $41.73, the average Hims & Hers stock price target implies a 26.22% downside potential. See more HIMS analyst ratings
Yahoo
4 days ago
- Business
- Yahoo
Hims & Hers Health trims workforce amid strategic realignment
-- Hims Hers Health Inc (NYSE:HIMS), a telehealth firm known for offering consumer-focused digital healthcare, is reducing its headcount by more than 4% as part of a pivot in its business strategy, according to Bloomberg. The decision impacts 68 employees across multiple divisions of the San Francisco-based company, which employs over 1,600 staff. The layoffs come as Hims moves away from leveraging regulatory loopholes that allowed it to sell cheaper, compounded versions of in-demand weight-loss drugs like Wegovy and Zepbound. With brand-name shortages largely resolved, the firm is shifting its attention to longer-term strategic investments. 'While not easy, this step reflects our commitment to invest in the areas that will define our future,' a spokesperson for the company said in a statement provided to Bloomberg. 'As part of this broader change, we will continue to actively hire for roles critical to our long-term strategy.' The news was first disclosed in Emily Sundberg's business newsletter Feed Me, following months of speculation about how telehealth platforms would adapt as the market for weight-loss drugs stabilizes. Hims had quickly become a key player by offering lower-cost alternatives when supply constraints propelled demand for off-brand equivalents. The company's valuation has soared, with its market capitalization reaching $12.7 billion as of its latest earnings report. This rapid growth was largely fueled by sales of compound versions of high-profile medications, capitalizing on temporary shortages that opened a window for telehealth platforms to scale. To sustain momentum, Hims recently announced a deal with Novo Nordisk A/S (NYSE:NVO) to distribute branded Wegovy at discounted rates. That partnership marks a notable departure from the firm's earlier reliance on generics and compounded imitators, indicating a move toward legitimizing its pharmaceutical offerings through strategic alliances. Industry watchers suggest the strategy may help the firm navigate rising scrutiny from U.S. regulators over compounded drugs and online prescribing practices. While details about which roles will be eliminated were not disclosed, the company affirmed its intention to continue hiring in key growth areas, as it seeks to revolutionize the telehealth industry. Hims stock rose 7.9% in trade Friday. Related articles Hims & Hers Health trims workforce amid strategic realignment TSX falls marginally on U.S.-China talks stalling, despite GDP growth California senate probing Paramount over 2024 $15M offer to Trump's campaign
Reuters
4 days ago
- Business
- Reuters
Hims to cut 4% of workforce amid ban on weight-loss drug copies
NEW YORK, May 30 (Reuters) - Telehealth platform Hims & Hers (HIMS.N), opens new tab said on Friday it will cut 68 employees, or about 4% of its workforce, as it adjusts to a U.S. ban on manufacturing mass copies of the weight-loss drug Wegovy. A U.S. Food and Drug Administration ban on compounded copies of Wegovy, made by Novo Nordisk ( opens new tab, took effect on May 22. Hims shares have since dropped 14%. The company said it is seeking new opportunities for growth, including an agreement with Novo to help patients access Wegovy. Hims plans to enter the market for low testosterone and menopause treatments and is looking at offerings to improve longevity and sleep. "These changes are focused on sharpening how we execute, without affecting our priorities or the specialties we're committed to," a company spokesperson said regarding the layoffs. Hims still plans to hire for roles related to its long-term growth plans. Bloomberg News reported the job cuts earlier on Friday. In 2022, the FDA declared a shortage of Wegovy, which has been shown to help patients lose around 15% of their body weight. That declaration allowed compounding pharmacies to produce the drug to meet demand. The FDA in February said Wegovy was no longer in shortage and ended the exception that allowed sale of mass compounded copies of the patented medication. Hims began offering copies of Wegovy in 2024, often at far lower prices than the brand-name version. That boosted subscriptions to the Hims telehealth platform, with revenue up 111% on a yearly basis during the first quarter of 2025. Wegovy copies and similar GLP-1 weight-loss drugs accounted for $200 million of the company's $1.5 billion revenue in 2024. Hims and its rivals have pivoted to what they say are customized copies of Wegovy that should not be subject to the FDA decision, featuring smaller doses or allowing for a more individualized plan for increasing dosage than offered by Novo. But analysts said that personalization strategy may not be enough to stave off new legal challenges from Novo. "It remains to be seen whether HIMS method of personalization (titration and dosage) is enough to meet the compounding clinical exemption need," said Jailendra Singh, a healthcare analyst at Truist.
Bloomberg
4 days ago
- Business
- Bloomberg
Telehealth Firm Hims Cuts Over 4% of Staff in Strategy Shift
Hims & Hers Health Inc. is cutting more than 4% of its workforce as it pivots away from selling cheap copycat versions of popular weight-loss drugs. The San Francisco-based telehealth company employs more than 1,600 staff. The moves will affect 68 people across various divisions, a spokesperson said. The company didn't say which positions will be affected.
Entrepreneur
24-05-2025
- Business
- Entrepreneur
MarketBeat Week in Review – 05/19 - 05/23
Stocks were moving lower to end the week as tariff concerns returned; however NVIDIA earnings next week may help investors climb the wall of worry This story originally appeared on MarketBeat Stocks were moving lower to end the week as tariff concerns took center stage heading into the long holiday weekend. Prior to two social media posts from President Trump, the NASDAQ and S&P 500 looked like they might eke out a small gain for the week. Investors (and the bond market) are also focusing on the contents of the "big, beautiful bill" that passed the House of Representatives. Senate approval of the bill in its current form looks unlikely. However, for now, these headlines look like more bricks in the wall of worry investors are climbing. Next week will be a short trading week, ending with the latest reading on the Personal Consumption Expenditures (PCE) index. It's likely to show cooling inflation, which may calm markets. Oh, and NVIDIA Corp. (NASDAQ: NVDA) reports after the market closes on Wednesday. Investors will be laser-focused on the company's guidance and what it means for the AI trade. Articles by Thomas Hughes Higher interest rates have put a damper on solar stocks. But as Thomas Hughes wrote this week, Nextracker Inc. (NASDAQ: NXT) is bucking the trend. After the company delivered a strong earnings report, Hughes explained why NXT stock may be heading for a new all-time high in 2025. Hims & Hers Health Inc. (NYSE: HIMS) has been one of the best-performing stocks in 2025. However, the last couple of months have been anything but smooth sailing for the stock. Hughes dives into the chart and explains why technical indicators point to a breakout, if short sellers don't spoil the party. Shares of Deere & Co. (NYSE: DE) moved to an all-time high after earnings. Hughes broke down the earnings report, which included bullish analyst sentiment as a reason to believe that the blue-chip company is likely to continue to outperform in 2025. Articles by Sam Quirke Technology stocks, and particularly the Magnificent 7 stocks, got a lift from the U.S.-China tariff pause announced in early May. However, if you like the gains in Inc. (NASDAQ: AMZN) in May, Sam Quirke explained why this may be the last month investors will be able to get the stock on sale. Although Netflix Inc. (NASDAQ: NFLX) is not part of the Mag 7, it's been on a magnificent run of around 40% since the beginning of April. Quirke analyzed NFLX stock and explained why analysts are falling in line behind strong fundamentals that are likely to lift the stock higher. Quirke also made the case for another tech stalwart, Salesforce Inc. (NYSE: CRM). Up 11% in the last months, CRM stock has been staging a comeback, and Quirke explained why signs point to a return to all-time highs by June. Articles by Chris Markoch One way to evaluate a dividend stock is to look for companies that are increasing their dividend payouts. This week, Chris Markoch pointed investors to three companies that recently raised their dividends. However, he explained that investors may want to wait before they buy one of them. Palantir Technologies Inc. (NASDAQ: PLTR) continued to defy expectations this week. However, Markoch wrote that institutional investors are still catching up to this stock. That hesitancy for the big money to jump in may continue to work to retail investors' advantage. This week's tariff threat aside, investors may still want to look at European stocks. Markoch wrote about the performance of Heineken N.V. (OTCMKTS: HEINY) in 2025. The stock's valuation and bullish sentiment point to higher prices. Articles by Ryan Hasson Warren Buffett may be retiring, but he's still making headlines. This week, Ryan Hasson wrote the latest 13-F filing from Berkshire Hathaway Inc. (NYSE: BRK.B) that includes a confidential mystery stock that is keeping investors guessing. Berkshire Hathaway isn't the only company issuing 13-F filings. This is the season when many hedge funds make filings. This week, Hasson highlighted five stocks that are being favored by some of the world's most respected hedge fund managers. Hasson also explained some technical signals that support a significant gain for CrowdStrike Holdings Inc. (NASDAQ: CRWD). The stock is a standout in the cybersecurity sector, and Hasson pointed out why analysts believe CRWD stock may be headed to an all-time high. Articles by Gabriel Osorio-Mazilli Although many retail investors love the thrill of hunting for their own stocks, it can help to have some guidance. This week Gabriel Osorio-Mazilli highlighted Morningstar's top three value stocks for 2025, and explained why the firm may find the stocks appealing. Osorio-Mazilli also focused on the latest moves being made by legendary hedge fund manager Ray Dalio. Investors may be surprised to find out which stocks Dalio is exiting, but even more surprised to find out the stocks he's been buying. The Magnificent 7 trade is heating up, but as Osorio-Mazilli pointed out this week, the seven stocks aren't trading in lock step anymore. Instead, investors are grouping the stocks into stable blue-chip names and volatile growth stocks. Articles by Leo Miller Earnings season is buyback season. This week, Leo Miller focused on three stocks that have announced a total of $9 billion in stock buybacks. However, Miller also highlighted the other news that makes these stocks attractive buys even without the buybacks. Stocks that have recently gone public carry risk, but many traders just can't stay away. That's the case with CoreWeave Inc. (NASDAQ: CRWV). The stock went public in late March but is up 148% in the 30 days ending May 22. The company has an impressive partnership with NVIDIA, but is still in the growth stage and Miller explains why analysts believe the stock may be overextended. After a company reports earnings, it's time for analysts to weigh in. This week, Miller examined three stocks that are getting higher price targets from analysts after posting strong earnings. This is usually a signal that the stock is about ready to move higher. Articles by Nathan Reiff Quantum computing stocks had another strong week, and that included D-Wave Quantum Inc. (NYSE: QBTS). This week, Nathan Reiff helped investors understand how D-Wave stacked up against some of its biggest rivals. The 90-day pause in the tariff war between the U.S. and China is causing Chinese stocks to take off. That's also been good news for four China ETFs that Reiff highlighted this week for investors looking to gain exposure to the Chinese market. This week, NVIDIA made news regarding its efforts to advance humanoid robots. Reiff explained why this should be bullish for robotic stocks and gave investors two robotics stocks that are poised to capitalize on this trend. Before you make your next trade, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list. They believe these five stocks are the five best companies for investors to buy now... See The Five Stocks Here
