Hims & Hers Health (HIMS) faces a new risk to its injectable glucagon-like peptide-1 franchise as the US Food and Drug Administration said Friday it could act to restrict GLP-1 active pharmaceutical ingredients, and singled out Hims & Hers as an example of compounding pharmacies mass-marketing 'alternatives to FDA-approved drugs,' Bank of America Securities said in a note to clients Monday.

The company's Q4 results are due Feb. 23.

Hims & Hers announced Saturday it will stop distributing its oral semaglutide pill, citing "constructive conversations with stakeholders across the industry."

Bank of America lowered the GLP-1 revenue estimate for Hims & Hers by 25% in 2026 to account for growing adoption of branded oral GLP-1s and rising competition, while maintaining an underperform rating on Hims & Hers and lowering its price target to $21 from $26.

Shares of the company were down nearly 25% in recent Monday trading.

Price: 17.68, Change: -5.34, Percent Change: -23.20