Hims & Hers (HIMS) Stock Jumps 13% as FDA Opens Door to Peptide Review

TLDR

• HIMS stock surged ~13% on April 16, 2026, following FDA news around peptide regulatory review
• The FDA scheduled meetings for July 23-24 to evaluate several peptides for possible inclusion on the 503A Bulks List
• BofA Securities raised its price target to $25 from $21, maintaining a Neutral rating
• The firm sees this as a modest long-term positive, with no near-term impact on earnings estimates
• Insiders have sold approximately $3.4 million worth of stock in the past three months, with zero purchases

Hims & Hers Health (HIMS) saw its stock climb as much as 13.72% on April 16, 2026, after the FDA announced it would hold advisory committee meetings to evaluate several wellness peptides currently restricted under its guidance framework.

Hims & Hers Health, Inc., HIMS

The FDA published a notice scheduling Pharmacy Compounding Advisory Committee meetings for July 23 and July 24. The meetings will discuss several peptide-related bulk drug substances for possible inclusion on the 503A Bulks List. This is an early procedural step, not an approval.

RFK Jr.’s public comments about potential FDA regulatory changes added fuel to investor enthusiasm. The FDA is looking at lifting restrictions on up to 12 peptides, with reviews planned through February 2027.

The stock had already been moving. Over the past week, HIMS is up roughly 25%, according to InvestingPro data.

BofA Raises Price Target

BofA Securities responded by lifting its price target on HIMS to $25 from $21, while keeping its Neutral rating in place. The firm raised its target valuation multiple to approximately 25.5 times from 21.5 times, citing higher peer multiples and peptide optionality.

BofA noted the development could help the company repurpose existing GLP-1 compounding capacity toward other peptides. That matters because HIMS has sunk costs tied to its GLP-1 infrastructure following earlier FDA compounding restrictions.

The firm was careful to frame its view. It described this as “an initial small step” and said it sees no near-term impact on earnings estimates unless the FDA follows through with a formal decision.

The FDA also flagged that most of the substances under review still carry potential safety risks under its current guidance.

What Else Is Going On With HIMS

HIMS recently added Novo Nordisk’s FDA-approved GLP-1 medications to its platform, including Wegovy in both injection and pill form. The Wegovy pill is the only FDA-approved GLP-1 weight loss pill currently available.

The company will also offer Ozempic injection pens, though those are approved only for Type 2 diabetes.

Competition in the GLP-1 space has been heating up. Amazon Pharmacy recently began offering Eli Lilly’s newly approved GLP-1 drug Foundayo with same-day delivery, putting pressure on both Novo Nordisk and HIMS.

On the insider front, CFO Oluyemi Okupe filed to sell stock valued at approximately $4.9 million. Over the past three months, insiders have sold around $3.4 million in total, with no purchases recorded.

HIMS trades at a P/E ratio of around 45-47x. InvestingPro’s analysis flags the stock as overvalued relative to its Fair Value estimate. The company has a market cap of approximately $5.54 billion and more than 2 million subscribers.

BofA’s EBITDA forecast for 2026 sits around 21% below Wall Street consensus, a gap the firm has flagged in prior notes.

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