BUZZ-Street View: Analysts confident in HIMS's long-term growth

Reuters
Aug 05
BUZZ-Street View: Analysts confident in HIMS's long-term growth

** Online telehealth company Hims and Hers Health HIMS.N missed Wall Street estimates for second-quarter revenue on Monday, as it lost subscribers for compounded versions of weight-loss drugs

** Median PT of 14 brokerages covering stock is $48 - LSEG data

** Co's shares were down 12.7% at $55.31 premarket

ANALYSTS POSITIVE ON LONG TERM GROWTH

** Jefferies ("hold" PT: $51) expects continued stock volatility in near term; adds, "that said, we have a positive view on HIMS's strategies to introduce healthcare personalization and the rollout of new offerings"

** BTIG ("buy," PT: $85) says slow-down in commercial GLP-1s subscriptions is likely temporary, expects sequential growth; adds, "GLP-1 volumes will transition to shorter duration prescriptions (90 days) and we still view the obesity health market as being robust"

** Canaccord Genuity ("buy," PT: $68) says "...the roll-out of new treatments, continued investment in personalization capabilities, and an expanding international presence, we remain positive on Hims' long-term growth outlook"

** Leerink Partners ("market perform" PT: $43) says "HIMS's near-term performance will likely be most closely tied to GLP-1s/weight management developments, especially the pacing of international launches in Canada and in conjunction with other international expansion efforts"

(Reporting by Sneha S K)

((Sneha.SK@thomsonreuters.com;))

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