Deutsche Bank trimmed its Hims & Hers price target from $42 to $31 and kept a Hold rating, highlighting heightened uncertainty around the company’s near-term revenue growth. The analyst cited the abrupt reversal of the newly announced GLP-1 pill launch as a key driver of increased risk for shareholder returns.

Hims & Hers halted its planned roll-out of a compounded semaglutide GLP-1 pill after internal and external concerns over regulatory approval and patient safety emerged. The launch reversal has raised questions about the company’s product development timeline and its ability to scale new therapies.

Novo Nordisk filed a lawsuit alleging illegal, large-scale compounding of semaglutide and deceptive marketing by Hims & Hers, warning of intellectual property and patient safety issues. Hims & Hers countered that the suit aims to restrict compounded medications, reaffirming its commitment to affordable, personalized care options.