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Trump's FDA nominee viewed as key ally Hims & Hers Health (HIMS.US) surges to new highs

Market IntelMonday, Nov 25, 2024 9:10 pm ET
1min read

Hunterbrook Media said Hims & Hers Health (HIMS.US) would be a major beneficiary of President-elect Donald Trump's nomination of Marty Makary to head the FDA, sending the remote health company's shares up 24% to a record high of $31.35.

Hunterbrook said in a Monday note that Hims & Hers could have a "key ally" in Makary, a senior executive at Sesame Inc., a startup that also sells a combination GLP-1 weight loss drug. Hunterbrook's hedge fund Hunterbrook Capital said it was buying Hims & Hers shares, reversing a June short position that focused on the online sales of the company's combination GLP-1 injections.

The stock has been volatile since the company began offering unapproved copies of the GLP-1 injections after being granted permission to sell them due to shortages of the FDA-approved brand drugs sold by Eli Lilly (LLY) and Novo Nordisk (NVO).

Shares surged on Nov. 21 after a court filing showed the FDA needed more time to decide whether to keep Eli Lilly's GLP-1 drug tirzepatide off a shortage list. The FDA had removed it in October but was sued by a combination drug industry group and was reconsidering its decision. Hims & Hers does not sell the combination tirzepatide. Novo Nordisk's drug semaglutide remains on the FDA's "currently in shortage" list.

Hims & Hers shares have risen more than 250% this year and are on track for the best annual performance since the company went public.

Still, Wall Street is cautious about the company, with more than half of analysts covering the stock giving it a neutral or sell rating, according to data compiled by Bloomberg. About 40% of analysts covering Hims & Hers recommend buying the stock.

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OutsidePerspective27
11/26
$HIMS has a price gap at 26, which I plan to fill by purchasing shares (NFA). Expect record highs for this stock.
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Euro347
11/26
$HIMS Good job!
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Sugamaballz69
11/26
If $HIMS reaches 27-28, I'll be selling some PLTR and ACHR and executing a full exit here, hahahaha.
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fluffnstuff1
11/26
$LLY
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Econ Watcher
11/26
$HIMS just jumped 4% in after-hours trading 😂
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Conscious_Shine_5100
11/26
$HIMS makes us think they didn't believe us when we said this was a short squeeze.
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Fountainheadusa
11/26
I'm a huge fan of $HIMS. I've been really impressed with the company's performance so far.
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OutsidePerspective27
11/26
$HIMS surged past $33 in overnight trading.
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yodalr
11/26
$HIMS This is going to set off a short squeeze, guys. Looks like Christmas came early for those shorts.
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