BUZZ-Morgan Stanley downgrades Hims and Hers to 'equal weight' after recent share run
ReutersFeb 18, 2025 1:01 PM
Morgan Stanley downgrades rating on telehealth firm Hims and Hers HIMS.N to "equal weight" from "overweight"
HIMS shares down marginally at $60.35 premarket
"While HIMS checks a lot of boxes we evaluate for an investment thesis ... meaningful outperformance in the stock raises the bar near term" - brokerage
Stock has been trading at record highs in recent days and has risen 150% so far in 2025
MS points to investor optimism over the company's business of selling compounded versions of GLP-1 weight-loss injections, such as Novo Nordisk's NOVOb.CO Wegovy, as driving the recent gains in stock
MS also raised PT to $60 from $42
7 of 16 brokerages rate the stock "buy" or higher, 7 "hold" and 2 "sell" or lower; their median PT is $26 - LSEG data
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