** ** Shares of Hims & Hers Health fall 3.2% to $24.90 premarket
** Brokerage Citi downgrades stock rating to "sell" from "neutral"
** Citi says the market is over-valuing HIMS' GLP-1 revenue stream as Novo Nordisk's semaglutide could be removed from the FDA's shortage list in the next 12 months
** "If this were to happen, HIMS' weight loss market would be significantly constrained as they would only be able to compound GLP-1s by changing the formulation for the specific clinical benefit of an individual" - Citi
** HIMS sells compounded versions of semaglutide, the active ingredient in weight-loss drug Wegovy made by Novo
** Brokerage now expects HIMS' GLP-1 revenue to be $135 million in FY25 down from its previous estimate of $400 million
** 8 of 16 brokerages rate the stock "buy" or higher, 7 "hold" and 1 "sell" or lower; their median PT is $25.50 - data compiled by LSEG
** Up to last close, stock has nearly tripled in the last 12 months
(Reporting by Christy Santhosh)
((Christy.Santhosh@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.