Hims & Hers entered into a strategic partnership to integrate FDA-approved Ozempic injections (0.5 mg, 1 mg, 2 mg) and Wegovy injections (1.7 mg, 2.4 mg) and tablets (1.5 mg, 4 mg, 9 mg, 25 mg) into its telehealth platform later this month, replacing its compounded GLP-1 offerings and addressing safety concerns tied to unapproved generics.

Following the announcement, Hims & Hers shares surged nearly 46%, tempering a 59% drop from its year-to-date high and narrowing its 12-month decline to 33%. Short interest, now 43.2% of float, has fallen substantially from last summer’s peak, indicating reduced bearish pressure.

Bank of America upgraded the stock to Neutral with a $23 target, and Citigroup raised its target to $24, highlighting the potential revenue boost from branded GLP-1 offerings. Consensus among 17 analysts implies over 32% upside, while projected EPS growth of 79% next year underscores improving fundamentals.