Hims tumbles after FDA warning on compounded weight‑loss pill; Novo, Lilly gain
Shares of Hims & Hers Health HIMS.N fall 14.8% in premarket trading
Novo Nordisk NOVOb.CO shares up 8%, on track for best day since December; Eli Lilly LLY.N gains 2% premarket
HIMS said on Saturday it would stop offering its compounded $49 GLP-1 weight-loss pill after the U.S. FDA threatened action against the co citing potential violation of federal law
The telehealth firm's launch of its compounded pill on Thursday had briefly sent shares of major weight-loss drugmakers Novo Nordisk NOVOb.CO and Eli Lilly LLY.N tumbling
HIMS declined about 29% YTD, underperforming a 1% rise in the S&P 500 .SPX
The average rating of 16 analysts covering the stock is "hold"; their median price target of $33 implies an 43% upside from its last close - LSEG-compiled data
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