Stock Market Today, April 16: Hims & Hers Health Jumps on FDA Review of Compounded Peptide Therapies

Today’s Change

(11.12%) $2.70

Current Price

$26.99

Key Data Points

Market Cap

$5.5B

Day’s Range

$24.76 – $27.81

52wk Range

$13.74 – $70.43

Volume

80M

Avg Vol

35M

Gross Margin

60.86%

Hims & Hers Health (HIMS +11.12%), a consumer-focused telehealth platform offering prescription and non-prescription health products, closed Thursday at $26.98, up 11.07%. The stock moved higher as investors reacted to the FDA’s decision to review compounded peptide therapies. Trading volume reached 74.6 million shares, about 111% above its three-month average of 35.3 million shares. Hims & Hers Health IPO’d in 2019 and has grown 175% since going public.

How the markets moved today

S&P 500 added 0.23% to finish Thursday’s session at 7,039, while the Nasdaq Composite rose 0.36% to close at 24,103. Across telehealth and online health services, peers were mixed: Teladoc Health closed at $5.82 (up 5.05%), while American Well ended at $6.05 (down 3.04%).

What this means for investors

Hims & Hers Health stock rose 11% today following Health and Human Services Secretary Robert Kennedy Jr.’s announcement that the Food and Drug Administration may remove 12 peptides from its Category 2 restrictions. This decision could clear a path for companies like HIMS to offer these peptides to the public. Currently, this is more of a “gray” market.

Early in 2025, HIMS purchased a peptide manufacturing facility in California, so it seems well-positioned to benefit should the peptide therapies receive full regulatory clearance. Following the news, a Bank of America analyst reiterated their neutral rating on HIMS stock, but raised their price target from $21 to $25, as they believed the company’s manufacturing capabilities could also be converted from GLP-1’s to peptides, adding an additional tailwind.