Morgan Stanley downgrades Hims and Hers to 'equal weight' after recent share run

Hims

18/02/2025 13:01

** Morgan Stanley downgrades rating on telehealth firm Hims
and Hers  HIMS.N  to "equal weight" from "overweight"
    ** HIMS shares down marginally at $60.35 premarket  
    ** "While HIMS checks a lot of boxes we evaluate for an
investment thesis ... meaningful outperformance in the stock
raises the bar near term" - brokerage  
    ** Stock has been trading at record highs in recent days and
has risen 150% so far in 2025
    ** MS points to investor optimism over the company's
business of selling compounded versions of  GLP-1 weight-loss
injections, such as Novo Nordisk's  NOVOb.CO  Wegovy, as driving
the recent gains in stock 
    ** MS also raised PT to $60 from $42
    ** 7 of 16 brokerages rate the stock "buy" or higher, 7
"hold" and 2 "sell" or lower; their median PT is $26 - LSEG data
    

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com;))