Hims & Hers Health Inc (NYSE:HIMS) shares are rising higher on Tuesday. Multiple analysts upgraded the stock following the company’s deal with Novo Nordisk this week.
Novo Nordisk Partnership Brings Ozempic And Wegovy To The Platform
Hims & Hers has struck a new agreement with Novo Nordisk A/S (NYSE:NVO) that will add Ozempic and Wegovy to its platform later this month. The lineup will include Ozempic injections at 0.5 mg, 1 mg and 2 mg, as well as Wegovy injections at 1.7 mg and 2.4 mg, plus Wegovy tablets in 1.5 mg, 4 mg, 9 mg and 25 mg doses.
Over the coming months, the company plans to educate U.S. customers on the full range of FDA‑approved weight‑loss treatments now available through its service.
Importantly, Novo Nordisk has also dropped its lawsuit against Hims & Hers as part of the agreement, removing a significant legal overhang.
Analysts Are Growing More Bullish
In response to Hims & Hers’ partnership, Wall Street sentiment toward the company has shifted. Citigroup analyst Daniel Grosslight upgraded the stock from Sell to Neutral on Tuesday and raised the price target to $24 from $13.25. Bank of America analyst Allen Lutz also upgraded Hims from Underperform to Neutral with a new $23 target, up from $12.50.
The Technical Side Of HIMS
Hims & Hers is trading 39% above its 20-day SMA, but it remains 31.2% below its 100-day SMA, showing strong short-term recovery inside a weaker longer-term structure. Shares are down 33.83% over the past 12 months and are currently positioned closer to their 52-week low ($13.74) than their 52-week high ($70.43).
The RSI is at 59.24, which sits in neutral territory and suggests the rebound has room to run before momentum gets stretched again. MACD is at -2.0825 versus a signal line at -3.0880, with the MACD above the signal and a positive histogram (1.0055), pointing to improving upside momentum.
The combination of neutral RSI (59.24) and a bullish MACD crossover setup suggests mixed momentum, with improving trend pressure but not a fully repaired longer-term chart.
- Key Resistance: $25.00
- Key Support: $22.50
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Hims & Hers, highlighting its strengths and weaknesses compared to the broader market:
- Momentum: Bearish (Score: 1.23) — Despite the current bounce, the broader trend signal remains very weak versus the market.
- Value: Weak (Score: 5.75) — The stock screens as expensive on traditional value metrics, aligning with its premium P/E profile.
- Growth: Neutral (Score: 56.09) — Growth expectations are middle-of-the-pack, suggesting the market wants clearer acceleration to justify the valuation.
The Verdict: Hims & Hers’ Benzinga Edge signal reveals a rebound attempt inside a still-bearish momentum profile. With Momentum (1.23) and Value (5.75) both weak, bulls typically want to see follow-through above nearby resistance before treating the move as more than a tradable bounce.
HIMS Price Action: Hims & Hers shares were up 3.56% at $22.96 at the time of publication on Tuesday, according to Benzinga Pro.
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This article What's Fueling The Rise In Hims & Hers Health Stock Today? originally appeared on Benzinga.com
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