Hims & Hers Health jumped as much as 13% on Thursday after an FDA advisory panel voted to recommend loosening restrictions on BPC-157, a popular peptide compound. The stock was trading around $32.75 at the time, giving the company a market cap of $7.6 billion.
Hims & Hers Health, Inc., HIMS
The FDA’s Pharmacy Compounding Advisory Committee voted 8-6, with one abstention, to add BPC-157 to the 503A Bulks List. That means state-licensed compounding pharmacies can now make custom versions of the peptide for patients.
The result caught many off guard. Earlier FDA briefing materials had flagged safety concerns and suggested the committee might vote against BPC-157.
This was the first of seven peptide votes scheduled across Thursday and Friday. The committee also voted 8-6 to recommend KPV, another peptide, for the same list.
The vote goes against what the FDA’s own reviewers had proposed before the meeting. They had recommended rejecting all seven substances under review.
For Hims, the ruling could open a new revenue stream. The company already has a large customer base in wellness, and demand for peptides like BPC-157 has been rising quickly.
Back in 2025, Hims acquired a peptide manufacturing facility in California, giving it the in-house capacity to produce these compounds. It had been holding off on launches pending clearer FDA guidance.
Canaccord Genuity reiterated a Buy rating and $40 price target, calling the committee vote a positive for the peptide reclassification thesis. The firm said the move could unlock a sizable total addressable market for Hims.
Analysts at Canaccord also noted that HIMS outperformed the major indices by several hundred basis points on the back of the committee votes.
Not everyone is piling in. Citi analyst Daniel Grosslight raised his price target to $35 from $28 but warned expectations are already elevated ahead of the August 10 earnings report.
Grosslight said he sees limited near-term upside, particularly if the impact of the Eucalyptus acquisition is stripped out. He also pointed to high churn rates and a shift toward monthly shipping as headwinds for sales growth.
Truist Securities kept a Hold rating with a $23 price target, citing regulatory uncertainty. BofA raised its target to $37 but maintained a Neutral rating, flagging concerns around retention of new oral Wegovy members.
The overall Wall Street consensus sits at Moderate Buy — four Buys and eight Holds over the last three months. The average price target of $30.14 actually implies about 8% downside from current levels.
Separately, the company confirmed that Chief Accounting Officer Irene Becklund will leave in October 2026. CFO Yemi Okupe will cover the role while a replacement is found.
EPS for the year is forecast at $0.39, with analysts expecting Hims could beat its Q2 2026 revenue estimates when it reports on August 10.
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