What's Going On With Hims & Hers Shares

Shares of Hims & Hers Health, Inc. (NASDAQ:HIMS) are rising Friday, moving on the momentum of yesterday’s news that U.S. drug regulators will loosen restrictions on peptides.

• Hims & Hers Health shares are climbing with conviction. What’s fueling HIMS momentum?

FDA Plans To Loosen Peptide Restrictions

Earlier this week, the Food and Drug Administration said it plans to host a meeting in July to loosen regulations on peptides injections, which are compounded treatments that have increased in popularity among fitness influencers and celebrities.

In February, Hims & Hers bought a factory to produce peptides as part of the treatments offered on the telehealth service. The company said the move would strengthen the “long-term durability” of its domestic supply chain.

"The future of healthcare must be centered on the customer, which is why our operational structure is built to scale personalized care to more individuals at the highest standard of quality and safety, and with a focus on long-term consistency and availability," said Melissa Baird, COO of Hims & Hers. "We’re building our supply chain to enable more Americans to access care, including personalized treatments designed around their needs. This acquisition is a reflection of our commitment to those goals and our ongoing investment in the customer from start to finish."

Even though many peptides have not been completed large-scale tests often required for FDA clearance, their popularity has prompted many to order treatments from telehealth services online. Many claim to address weight gain and hair loss.

B of A Securities analyst Allen Lutz maintained a neutral rating and raised the price target from $21 to $25.

Hims Stock Recovering From Earlier Slide

Hims is trying to rebuild its longer-term trend after a steep slide from its 52-week high of $70.43, and it's now sitting closer to the middle of its $13.74–$70.43 range, which points to a recovery phase rather than a fully restored uptrend. The stock is trading 39.5% above its 20-day simple moving average (SMA) and 9.3% above its 100-day SMA, a combo that leans bullish for near-term momentum while also showing the rebound has extended quickly.

The relative strength index (RSI), a momentum gauge, is 68.16, which is right on the doorstep of "overbought" conditions and can mean upside is getting crowded. RSI at 68.16 reads like steady buying pressure that's strong, but not yet at an extreme.

• Key Resistance: $28.00 — a nearby area where sellers may try to slow follow-through.
• Key Support: $28.00 — a line buyers may defend to keep the breakout intact.

Shares Rise On Monday

HIMS Stock Price Activity: Hims & Hers Health shares were up 9.60% at $29.58 at the time of publication on Friday, according to Benzinga Pro data.

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