HIMS Stock Eyes 2-Week Green Streak: Analyst Sees Nearly 20% Upside On Multi-Year Opportunity In Peptides

• Canaccord Genuity reiterated a 'Buy' rating on HIMS, along with a $32 price target, implying a 16% upside from current levels.
• The brokerage sees peptides as a potential long-term growth driver as Hims expands into preventive health, longevity and wellness.
• Hims acquired a California peptide manufacturing facility in 2025 and later added in-house lab testing capabilities.

Shares of Hims & Hers Health, Inc. (HIMS) are on track for a second consecutive weekly gain as Wall Street bets on the company's efforts to build new growth drivers beyond GLP-1 medications, with peptides emerging as a key area of interest.

HIMS stock has risen 5% so far this week. However, shares are trading 2% lower in premarket trading on Thursday. 

Canaccord Sees Peptide Opportunity

On Wednesday, Canaccord Genuity reiterated its 'Buy' rating and maintained a $32 price target on Hims & Hers, implying a 16% upside from current levels. The brokerage said that peptides could emerge as a long-term growth driver for the company as it expands beyond its telehealth roots into preventive healthcare, longevity-focused treatments and broader wellness offerings.

The firm pointed to the FDA's ongoing review of several compounded peptide substances as a potential catalyst for the category. Canaccord said that Hims is well positioned to benefit from any regulatory clarity, given its investments in manufacturing, diagnostics, and healthcare infrastructure, adding that the shift could bring demand currently served through unregulated channels into mainstream healthcare, while also expanding access for new consumers.

How Hims Is Positioning For Peptides

The FDA review comes after restrictions were imposed in 2023 on several peptide substances following advisers' concerns about limited clinical safety data. More recently, Health and Human Services Secretary Robert F. Kennedy Jr. said the review aims to move consumers away from "a dangerous black market that puts Americans at risk."

Hims & Hers has been preparing for the opportunity. In early 2025, the company acquired a California-based peptide manufacturing facility to boost its domestic supply chain and support future innovation in areas including preventive health, metabolic optimization, cognitive performance and recovery science. The company later added in-house lab testing capabilities, further expanding its vertically integrated healthcare platform.

HIMS Diversifies Beyond GLP-1s

The peptide opportunity comes as Hims is expanding beyond its core telehealth and weight-loss businesses. Recently, the company completed its acquisition of digital health platform Eucalyptus ahead of schedule, expanding its presence across the U.S., U.K., Canada, Australia and several international markets. Hims said Eucalyptus has served over 850,000 customers and supports its long-term targets of $6.5 billion in revenue and $1.3 billion in adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) by 2030.

The company has also expanded into diagnostics, hormone health, preventive care, and AI-powered healthcare tools, including Labs AI, and has recently launched generic semaglutide in Canada through a partnership with Apotex.

How Do Retail Traders Feel About HIMS?

On Stocktwits, retail sentiment for HIMS was ‘bullish’ amid ‘low’ message volume.

One user said, “If tech is starting its correction as shown by todays action and the afterhour selloff after AVGOs earnings, i expect some rotation into the beatup healthcare sector so HIMS may be in good position for the next several weeks.”

Another user noted, “I have weekly recurring investments into this. I'm at peace and chilling :).”

HIMS stock has declined 50% over the past year. 

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