Hims & Hers shines bright in a testing year for telehealth stocks

LifeMD

31/12/2024 14:41

** Shares of Hims & Hers Health  HIMS.N  more than double,
while other telehealth firms are set to end the year in declines
    ** HIMS' shares set for their second straight year of gains
helped by co's offering of compounded versions of GLP-1
weight-loss drugs such as Novo Nordisk's  NOVOb.CO  Wegovy 
    ** HIMS, Mangoceuticals  MGRX.0 , WeightWatchers  WW.O  and
Teladoc Health  TDOC.N  offer compounded and branded versions of
GLP-1 weight-loss drugs on their platforms 
    ** Soaring demand for weight-loss drugs made by Eli Lilly
 LLY.N  and Novo Nordisk have pushed patients to cheaper
compounded versions 
    ** Shares of telehealth firms have been volatile this year
on "headlines tied to the overall supply availability of all
things GLP-1-related," brokerage Leerink Partners says 
    ** Shares of TDOC and LFMD were also hit after Amazon
 AMZN.O  announced low-cost telehealth services for Prime
members; shares of LFMD fell to nearly four-month low 
    ** Shares of HIMS have more than doubled YTD 
    ** Shares of TDOC set for fourth straight year of decline,
LFMD down 38.2% vs a ~327% gain in 2023; MGRX down 41% and WW
down 85.5% vs a 126.7% gain in 2023

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Telehealth stocks    https://tmsnrt.rs/4h02PMB
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 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))