Bank of America cut Hims & Hers’ price target to $25 from $28, flagging GLP-1 growth risks after Q1 results missed estimates as competition intensifies from Eli Lilly’s next-generation obesity therapies. Meanwhile, S&P 500 rose 0.6% and Nasdaq jumped 1.2% as Micron hit a $1T valuation on AI demand.
Bank of America lowered its price target on Hims & Hers from $28 to $25 after Q1 revenue and earnings fell short of analyst estimates despite raising 2026 revenue guidance to $2.8 billion–$3.0 billion. The firm warned that GLP-1 growth may underperform due to pricing pressure and heightened rivalry, particularly from Eli Lilly’s advancing next-generation obesity therapies, underscoring Lilly’s leadership in the weight-loss drug market.
U.S. equity benchmarks closed at fresh highs on May 26, with the S&P 500 up 0.6% and the Nasdaq rising 1.2% driven by Micron’s 19% surge to a $1 trillion valuation on AI chip demand and easing US-Iran tensions. This risk-on environment and robust semiconductor momentum offer a supportive backdrop for healthcare giants such as Eli Lilly.
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