** Morgan Stanley downgrades rating on telehealth firm Hims and Hers HIMS.N to "equal weight" from "overweight"
** HIMS shares down marginally at $60.35 premarket
** "While HIMS checks a lot of boxes we evaluate for an investment thesis ... meaningful outperformance in the stock raises the bar near term" - brokerage
** Stock has been trading at record highs in recent days and has risen 150% so far in 2025
** MS points to investor optimism over the company's business of selling compounded versions of GLP-1 weight-loss injections, such as Novo Nordisk's NOVOb.CO Wegovy, as driving the recent gains in stock
** MS also raised PT to $60 from $42
** 7 of 16 brokerages rate the stock "buy" or higher, 7 "hold" and 2 "sell" or lower; their median PT is $26 - LSEG data
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com;))