Stock of the Day: Hims & Hers plunges 27% after saying it will stop selling its Ozempic competitor With Hims & Hers' main source of growth set to be extinguished, Citi analysts said its full-year guidance appeared "aspirational."
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Hims & Hers stock plummeted 27% after announcing it will cease selling compounded semaglutide, following the FDA's removal of the drug from its shortage list. This decision threatens the company's growth, as GLP-1 drugs contributed 15% to its 2024 revenue of $1.48 billion, which grew by 69%. Analysts at Citi expressed skepticism about the company's future revenue guidance, deeming it "aspirational" given the loss of a key growth driver. The stock has fallen 49% from its recent peak, reflecting concerns over its valuation and competition in the obesity drug market.
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