On July 24, Hims & Hers Health Inc. rose 5.04% in regular trading, trading at $32.75/share, with turnover of $72.62 million. The rally was driven by the FDA advisory committee voting to include Bpc-157 peptide on the list of substances allowed for pharmacy compounding.

The company had actively advocated at panel meetings for the FDA to expand access to specific peptide medications. The regulatory body ultimately delivered a positive signal, validating the company's lobbying efforts. Market participants view this development as opening new business growth avenues for the telehealth platform, potentially broadening its prescription drug category coverage and creating incremental opportunities for its weight management and related services.

Additionally, Truist raised its price target on the stock to $27 from $23 while maintaining a Hold rating. The consensus mean price target stands at $30.69. Earlier this month, BofA Securities had also lifted its target to $36 from $25. The company recently completed its acquisition of Eucalyptus, expanding into Australia, Canada, and Germany.

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