Hims and Hers Shares Surge on Novo Nordisk Deal

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Patience Pays: Hims & Hers Surges on News of Novo Nordisk Deal

Written by Jordan Chussler on March 10, 2026 

Hims & Hers logo overlaid on medical syringes, measuring tape, and financial charts symbolizing telehealth weight-loss market growth.

Key Points

  • Hims & Hers has shifted from offering controversial compounded GLP-1s to a formal agreement with Novo Nordisk, allowing the platform to distribute FDA-approved Ozempic and Wegovy.
  • Following the announcement, HIMS shares surged nearly 46%, helping the stock recover from a 59% drop earlier in the year caused by previous legal friction with Novo Nordisk.
  • Analysts have upgraded the stock, citing the partnership as a major growth catalyst; despite a year-to-date loss, earnings are projected to grow by over 79% next year.
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After falling 59% from its year-to-date (YTD) high, embattled healthcare stock Hims & Hers Health (NYSE: HIMS) is making headlines as shares are surging in the wake of an agreement with GLP-1 maker Novo Nordisk (NYSE: NVO)—the very company that filed a patent infringement lawsuit against Hims & Hers on Feb. 9.

After having to pull its compounded semaglutide modeled after Novo Nordisk’s weight loss drugs, Wegovy and Ozempic, Hims & Hers announced in a press releasethat the two firms have entered into a strategic partnership, making Novo Nordisk’s obesity drugs available through the telehealth platform. 

Since the announcement, HIMS has gained nearly 46% along with analyst upgrades as Wall Street turns bullish on the direct-to-consumer prescription drug provider. 

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A Strategic Shift From Compounded GLP-1 to FDA-Approved Drugs

Amid surging demand and subsequent shortages for weight loss drugs, compounded GLP-1 alternatives emerged to fill the void. However, compounded GLP-1 drugs lack U.S. Food and Drug Administration (FDA) approval. 

While they increased affordable access to substitutes for brand-name drugs like Ozempic and Wegovy, while offering similar ingredient profiles (e.g., semaglutide and tirzepatide, the latter of which is marketed as Mounjaro and Zepbound), the absence of FDA approval means that those alternative drugs lacked quality and efficacy reviews, thereby posing a risk of incorrect dosages, improper storage, and other safety issues. 

According to Hims & Hers’s press release, as a part of the company’s shift away from compounded GLP-1 offerings, “existing patients will have the opportunity to transition to FDA-approved medicines.”

Specifically, “Hims & Hers has entered into an agreement with Novo Nordisk that will bring Ozempic (semaglutide) 0.5 mg, 1 mg, and 2 mg injections and Wegovy (semaglutide) pills and injections to the platform later this month, including 1.7 mg or 2.4 mg injections and 1.5 mg, 4 mg, 9 mg, and 25 mg tablets.”

Co-founder and CEO Andrew Dudum noted that the deal should result in “tremendous growth opportunities in the U.S. with the expanding assortment of branded GLP-1 medications.” Dudum added that the “collaboration reflects what’s possible globally when drugmakers, biotech companies, and diagnostic leaders partner with consumer platforms to support scaled distribution of their latest medical innovations.”

Shares of HIMS Are Still Struggling, But the Future Looks Promising

The recent news, as well as the sizable bump in the stock’s price, was warmly welcomed by shareholders who have dealt with Hims & Hers’ volatility over the past year. Even in the wake of the Novo Nordisk-induced sell-off in February, analysts remained bullish on the stock, with some 12-month price targets implying as much as 150% potential upside.

Even with the March 9 surge, HIMS shares are still down nearly 33% over the last 12 months. But fundamentally, Hims & Hers looks well-positioned to sustain its run.  

When the company reported full-year and Q4 2025 earnings on Feb. 23, it announced an earnings per share (EPS) beat and a revenue miss. EPS of 8 cents surpassed analyst expectations of 2 cents, while revenue of $617.82 million fell short of expectations of $619.48 million. 

It was the company’s first EPS beat since the first quarter of last year. But just as importantly, the financial metrics showed steady, sustainable revenue growth, with a three-year average of 64.60%. And while earnings contracted in 2025, that followed EPS growth of nearly 582% in 2024 and nearly 66% in 2023. 

Hims & Hers Health’s earnings are expected to grow 79.31% next year, from 29 cents per share to 52 cents per share.

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HIMS Receives Analyst Upgrades as Wall Street Turns Bullish on Telehealth

Following the announcement of the Novo Nordisk deal, Bank of America Securities upgraded HIMS stock to Neutral from Underperform and raised its price target to $23 from $12.50.

Notably, the firm’s previous price target excluded contributions from GLP-1 revenue, showing that the agreement with Novo Nordisk is being seen as an extremely bullish catalyst on Wall Street.

Overall, the stock receives a consensus Hold rating based on 17 analysts currently covering the stock. The average one-year price target implies more than 32% potential upside.  

Current short interest of 43.24% of the shares outstanding should be monitored, but that figure—which equates to $1.32 billion worth of shares—is substantially lower than the $4.27 billion that were shorted last July. That downtrend has steadily continued, and it would not be surprising if institutional buyers once again outnumber sellers in the quarters ahead as the deal with Novo Nordisk will bolster Hims & Hers’ top-line growth. 

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I was born on 6 August 1956 in San Francisco, California to Janet and (the late) Richard Hovis. I grew up in Santa Monica, California where I attended elementary, junior high school, and high school (graduating in 1974), in addition to involvement in sports and recreation (Little League +, the Boy’s Club ++). Further, it was in elementary school – St. Augustine’s By-the -Sea Parish School that I found, and made the choice to truly journey with God. I attended Arizona State University from 1974 to 1977 – seeking to become an architect, however, I was not accepted, and, as such, I graduated with a Liberal Arts degree. Upon graduation from Arizona State University, I attended Cal Poly San Luis Obispo and studied City and Regional Planning at the Master’s level. I successfully completed one (1) year in a two (2) year program – I did not complete the Master’s degree in City and Regional Planning – due to personal reasons. I returned to Santa Monica where I started (October 1979) my career as graphic designer with Exxon Company, USA. I spent five years with Exxon Company, USA. While working with Exxon Company, USA I was accepted into architectural school – Sci-Arc in Southern California, however, I did not attend preferring to stay with Exxon.. In 1982 I married Laura Flosi and in April 1983 we had our one and only child – Lauren Alain Hovis – a gift from God. We moved to Phoenix, Arizona in 1984 from Los Angeles, where I went to work as a graphic designer with Kitchell CEM (from 1985 -1987). From 1987 – 1995 I was an independent contractor, and a registered representative in mortgage finance, financial management, graphic design, and drafting. Further, I attended the University of Phoenix and successfully obtained a Master’s in Business Administration (MBA) in 1982. I was also a member of the Scottsdale Jaycees, where I became very involved in community events and projects. In 1994, I accepted a cartography position with the Defense Mapping Agency in Reston, Virginia. As such, I relocated from Phoenix to Reston. In 1998, I was accepted and worked as a Visual Information Officer with the Central Intelligence Agency. In 2002, I worked as a Support Officer until my retirement (due to a need for shoulder surgery) in September 2018. Away from my Federal Government service, I have been involved in various organizations and activities in Northern Virginia. In November of 2011, I married Rebecca Ouellette in Santa Monica, California. I reside in San Tan Valley, AZ with my two hamster - Jess and Timothy, our fish, our lizard - RJ Lizard., and our cats - Pearl and Grey. As to hobbies, I enjoy playing sports, attending sporting events, mentoring individuals from financial management to hamsters, building models, photography, travel, multimedia design, managing partner for RJ Hamster, and jazz – smooth jazz to a samba or a bossa nova. Love and God Bless, Peter – aka RJ Hamster Jo hi

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