Canaccord Genuity Group Forecasts Strong Price Appreciation for Hims & Hers Health (NYSE:HIMS) Stock

Hims & Hers Health (NYSE:HIMS) had its target price hoisted by analysts at Canaccord Genuity Group from $38.00 to $68.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 2.59% from the stock’s current price.

A number of other equities research analysts have also weighed in on HIMS. Citigroup lowered shares of Hims & Hers Health from a “neutral” rating to a “sell” rating and upped their target price for the stock from $24.00 to $25.00 in a report on Friday, January 10th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. TD Cowen reiterated a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Piper Sandler increased their price objective on shares of Hims & Hers Health from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.53.

Hims & Hers Health Price Performance

HIMS opened at $66.28 on Wednesday. Hims & Hers Health has a fifty-two week low of $9.22 and a fifty-two week high of $72.98. The firm has a market capitalization of $14.48 billion, a PE ratio of 150.64 and a beta of 1.35. The company’s 50-day moving average is $34.66 and its 200 day moving average is $25.48.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, CFO Oluyemi Okupe sold 101,993 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $29.62, for a total value of $3,021,032.66. Following the completion of the transaction, the chief financial officer now directly owns 109,392 shares of the company’s stock, valued at $3,240,191.04. This trade represents a 48.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Chi sold 7,259 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $24.07, for a total transaction of $174,724.13. Following the completion of the transaction, the insider now directly owns 193,601 shares of the company’s stock, valued at approximately $4,659,976.07. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,184,611 shares of company stock valued at $40,338,442 in the last three months. Company insiders own 17.71% of the company’s stock.

Institutional Trading of Hims & Hers Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Main Management ETF Advisors LLC purchased a new stake in shares of Hims & Hers Health during the 3rd quarter valued at $672,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Hims & Hers Health during the 3rd quarter valued at $604,000. Royce & Associates LP raised its position in shares of Hims & Hers Health by 17.0% during the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after buying an additional 49,500 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Hims & Hers Health during the 3rd quarter valued at $634,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Hims & Hers Health during the 3rd quarter valued at $6,790,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

About Hims & Hers Health

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.