By Joseph Walker
Shares of Hims & Hers Health, the telehealth provider that has found a niche in the obesity-drug boom, surged 28% on Thursday as the company's controversial Super Bowl ad on Sunday continued to gain traction.
The company's ad ranked fifth among all Super Bowl ads on how well it pushed consumers to seek more information about a brand, according to EDO Inc., a market research firm.
Retail investors appear to be riding the stock's momentum, but the company might also have a friend in newly confirmed Health and Human Services Secretary Robert F. Kennedy Jr., said Jared Holz, a Mizuho analyst, in a note to clients.
"Our sense (reading in-between the lines), is that the RFK-led HHS will take a fairly lenient stance with respect to" compounders when it comes to weight-loss drugs, Holz wrote, "provided the drugs are seen as safe."
Hims & Hers sells a compounded version of semaglutide, the active component in Novo Nordisk's Wegovy and Ozempic. , and resulting shortages have allowed for cheaper compounded versions to proliferate on the market.
Over the past 12 months, Hims & Hers shares have risen more than sixfold, adding some $9.9 billion in market value.
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(END) Dow Jones Newswires
February 13, 2025 16:37 ET (21:37 GMT)
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