Bank of America Forecasts Strong Price Appreciation for Hims & Hers Health (NYSE:HIMS) Stock

Hims & Hers Health (NYSE:HIMS) had its price objective hoisted by Bank of America from $18.00 to $21.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

HIMS has been the topic of several other reports. BTIG Research began coverage on shares of Hims & Hers Health in a report on Tuesday, January 7th. They set a “buy” rating and a $35.00 price objective on the stock. Piper Sandler increased their price target on shares of Hims & Hers Health from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Canaccord Genuity Group increased their price target on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC increased their price target on shares of Hims & Hers Health from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, TD Cowen reissued a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a report on Wednesday, November 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.53.

Hims & Hers Health Stock Down 3.6 %

NYSE HIMS opened at $66.28 on Thursday. The company has a market cap of $14.48 billion, a PE ratio of 150.64 and a beta of 1.35. Hims & Hers Health has a 52 week low of $9.22 and a 52 week high of $72.98. The firm’s 50-day simple moving average is $34.66 and its two-hundred day simple moving average is $25.48.

Insider Buying and Selling

In other Hims & Hers Health news, insider Soleil Boughton sold 2,343 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $29.90, for a total transaction of $70,055.70. Following the transaction, the insider now directly owns 165,254 shares in the company, valued at $4,941,094.60. This trade represents a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Chi sold 2,054 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the transaction, the insider now owns 184,947 shares in the company, valued at $6,206,821.32. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,184,611 shares of company stock worth $40,338,442. Insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC bought a new position in Hims & Hers Health during the fourth quarter valued at approximately $28,000. Raleigh Capital Management Inc. boosted its stake in shares of Hims & Hers Health by 1,100.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 1,100 shares during the period. Blume Capital Management Inc. boosted its stake in shares of Hims & Hers Health by 100.0% during the fourth quarter. Blume Capital Management Inc. now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 600 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Hims & Hers Health by 4,415.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock valued at $36,000 after purchasing an additional 1,413 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in shares of Hims & Hers Health during the fourth quarter valued at approximately $38,000. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.