FIGS Surges 9.17% on Analyst Upgrades, Beats Q3 Earnings Estimates

The share price rose to its highest level so far this month today, with an intraday gain of 9.29%.

Shares of FIGS, the healthcare apparel company, have surged 9.17% in today’s session, extending a three-day rally that has driven the stock up 28.19%. The climb follows recent upgrades from analysts at Barclays, BTIG, and Telsey Advisory Group, which raised price targets to $9.00, $10.00, and $9.00, respectively. These revisions reflect renewed confidence in FIGS’ ability to capitalize on its market position and operational efficiency, particularly after the company reported third-quarter results that exceeded Wall Street expectations. Revenue grew 8.2% year-over-year to $151.7 million, with adjusted EPS of $0.05, more than double the consensus forecast.

Broader industry tailwinds are also supporting the stock’s momentum. A recent market projection estimates the global healthcare apparel sector will expand from $98.6 billion in 2024 to $173.2 billion by 2034, driven by aging demographics and demand for infection-control-focused attire. Analysts view FIGS as well-positioned to benefit from this growth, given its focus on high-quality, functional apparel for healthcare workers. The company’s improved operating margin—turning from a 6.2% loss in the prior-year period to a 6.4% profit—has further bolstered investor sentiment, signaling stronger cost management and scalability. While the stock remains volatile, its year-to-date gains highlight its appeal in a sector poised for long-term expansion.