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SAN FRANCISCO—Okupe Oluyemi, the Chief Financial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently sold 4,213 shares of the company's Class A common stock. The shares were sold at an average price of approximately $29.98 per share, resulting in a total transaction value of $126,317.
Following the sale, Oluyemi holds 128,365 shares in the company. The transaction was conducted under a Rule 10b5-1 trading plan, which was adopted on May 31, 2024. This plan allows corporate insiders to set up a predetermined schedule for selling stocks to avoid accusations of insider trading. The shares were sold at varying prices within the range of $29.95 to $30.02, according to the filing.
In other recent news, Hims & Hers Health faced a significant development as the U.S. Food and Drug Administration (FDA) resolved the tirzepatide injection shortage. This decision is consequential for Hims & Hers Health, whose offerings include compounded versions of obesity drugs. Meanwhile, Morgan Stanley (NYSE:MS) initiated coverage on Hims & Hers Health with an Overweight rating, citing impressive revenue growth projections. The company also reported a 77% year-over-year increase in Q3 sales, surpassing $400 million.
On another note, Hims & Hers Health recently announced a partnership with Eli Lilly (NYSE:LLY) to streamline access to FDA-approved obesity medication Zepbound. In contrast, shares of Hims & Hers Health fell as digital health company Ro announced a similar collaboration with Eli Lilly. Furthermore, the company's future could potentially be influenced by the FDA's stance on the compounding of GLP-1 products, a key issue highlighted by analysts from Bank of America.
Finally, a report from Hunterbrook Media suggested Hims & Hers Health could benefit from the potential appointment of Dr. Martin Makary, a telehealth executive, as the FDA commissioner. This development could significantly impact Hims & Hers Health and the broader market of compounded GLP-1 drugs.
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