Hims & Hers Health falls after bigger-than-expected Q2 loss
HIMS•Shares fall after larger Q2 loss
- Shares of telehealth firm Hims & Hers Health (HIMS.N) were down 7.15% at $29.5 in premarket trading.
- The company posted a bigger-than-expected second-quarter loss on Monday, driven by higher costs tied to its shift to branded weight-loss drugs.
- Hims & Hers' growth in its GLP-1 weight-loss business and international expansion boosted subscriptions, but weighed on margins.
- Analysts at Leerink Partners said HIMS growth is likely to continue with the expected launch of peptide products, but a difficult balance between spending and growth limits its optimism.
- HIMS reported a second-quarter net loss of 37 cents per share, compared with analysts' estimate of a 1-cent loss per share.
- Sixteen analysts rate the stock "hold" on average; median price target is $30.5, according to data compiled by LSEG.
- As of the last day's close, the stock was down 2.15% year to date.
