BUZZ-Hims & Hers slides after it forecasts Q1 revenue below estimates

Reuters02-24 17:44
BUZZ-Hims & Hers slides after it forecasts Q1 revenue below estimates

** Shares of online telehealth company Hims & Hers Health HIMS.N fall 6.7% to $15.51 in premarket trading

** Co on Monday forecast Q1 revenue below estimates, citing a $65 million hit from changes in the shipping of weight-loss products for personalized prescriptions

** HIMS, which grew rapidly after it offered cheaper compounds of weight-loss drugs, now expects Q1 revenue in the range of $600 million to $625 million, below estimates of $653.11 million, according to data compiled by LSEG

** Morningstar sees several uncertainties for HIMS, including the Novo Nordisk litigation, regulatory risks around compounding, and execution risk for new launches and markets

** Earlier this month, the FDA said it would take action against HIMS for its $49 copycat weight-loss pill; co was also referred to the Dept of Justice for violation

** 16 analysts rate the stock "hold" on average; median PT is $22 - data compiled by LSEG

** As of last close, stock down 52.23% YTD

(Reporting by Kanishka Ajmera in Bengaluru)

((mail to: Kanishka.Ajmera@thomsonreuters.com))

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