HIMS Stock Gets Pre-Market Boost – JPMorgan Initiation Flags ‘Turning Point’ With Novo Nordisk

• The brokerage believes Hims & Hers' recent partnership with Novo Nordisk “could mark a turning point,” easing key legal concerns.
• JPMorgan sees positives in steadier GLP-1 business, progress toward peptide legalization, revenue rebound in the second half, and the potential for additional branded partnerships.
• Hims & Hers expanded its GLP-1 offerings on its platform to include Eli Lilly drugs, including Zepbound, Mounjaro, and Foundayo.

Shares of Hims & Hers Health (HIMS) rose about 4% in pre-market trading on Friday after a bullish brokerage note highlighted the company’s recent partnership with Novo Nordisk, boosting optimism around its expanding GLP-1 weight-loss offerings amid intensifying competition in the space.

HIMS shares closed lower for a third consecutive session on Thursday, declining more than 9% during the sell-off.

HIMS-NOVO Partnership Removes Key Legal Overhang

JPMorgan initiated coverage of Hims & Hers with an ‘Overweight’ rating and a price target of $35, according to The Fly. This represents a near 25% upside from the stock’s closing price on Thursday.

Analyst Cory Carpenter believes Hims & Hers recent partnership with Novo Nordisk “could mark a turning point,” easing key legal concerns and positioning the company as a broader platform spanning branded, generic, and compounded offerings.

In March, Novo Nordisk teamed up with Hims & Hers, allowing the telehealth platform to offer FDA-approved versions of Wegovy and Ozempic at more affordable self-pay prices, while discontinuing the promotion of compounded GLP-1 drugs.

This came after Novo sued Hims & Hers for patent infringement after HIMS launched a $49-per-month compounded version of Wegovy, claiming it used the same active ingredient as the branded drug.

Analyst Sees Compelling Path For Upside

The brokerage noted that the company has built a leading direct-to-consumer healthcare platform, serving around 2.5 million subscribers across areas such as weight loss, women’s health, erectile dysfunction, hair loss, testosterone, and an expanding presence in international markets.

Carpenter stated that a steadier GLP-1 business, progress toward peptide legalization, an expected revenue rebound in the second half, and the potential for additional branded partnerships together create a “compelling catalyst path” for upside.

Hims & Hers also expanded its GLP-1 offerings on its platform to include Eli Lilly drugs such as Zepbound, Mounjaro, and Foundayo.

However, HIMS is facing intensifying competition after Amazon expanded its GLP-1 management program through its One Medical platform, while rival telehealth platform Ro introduced major price cuts to its weight-loss membership program.

How Did Retail Traders React?

Retail sentiment on Stocktwits turned ‘bullish’ from ‘extremely bullish’ a day earlier, while message volumes remained ‘extremely high.’

One user said HIMS’ chart is intact and the stock could climb to “at least” $40.

Another user noted that the short float is still high.

The stock has shed around 17% so far in 2026.

Read also: Why Is OGN Stock Rising In Pre-Market Today?

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