Hims & Hers (HIMS) shares rise 8% amid FDA review of peptides

AI Summary

Shares of Hims & Hers Health (HIMS) increased by over 8% to approximately $26 following the FDA's announcement to initiate a formal review of wellness peptides. The review includes potential inclusion of multiple peptide-related substances on the 503A bulks list. Bank of America raised its price target for HIMS from $21 to $25 while maintaining a 'Neutral' rating. While the review process introduces strategic optionality for HIMS, the immediate impact on earnings remains uncertain, contingent upon future FDA decisions.