Barclays has maintained its Overweight rating on Hims & Hers Health, Inc. (NYSE: HIMS) while raising its price target to $39.00, up from $29.00.
The investment bank highlighted that growth in weight-loss offerings, alongside contributions from other business areas, is expected to drive stronger revenue and EBITDA momentum in the second half of 2026.
Barclays also noted that the stock could see further upside as investors gain greater confidence in the company’s future growth trajectory.
The firm’s data pointed to improving trends following HIMS’ partnership announcement with Novo Nordisk, which has added a significant dimension to its weight-loss strategy.
The telehealth company has been shifting away from compounded GLP-1 alternatives toward branded weight-loss medications through partnerships with major pharmaceutical companies.
This repositioning has helped HIMS build out what analysts are describing as a broader metabolic health platform, strengthening its long-term competitive standing in the sector.
On June 2, Hims & Hers Health completed its acquisition of Eucalyptus, a move designed to strengthen its global consumer healthcare platform.
The acquisition expands HIMS’ reach across key markets, including the United States, the United Kingdom, Australia, and Canada, while supporting further international growth.
By combining Eucalyptus’ digital health expertise and regional capabilities with HIMS’ existing technology platform, the company aims to deliver more personalized and accessible healthcare solutions worldwide.
The transaction is expected to enhance the company’s global presence while supporting a long-term strategy focused on expanding its healthcare ecosystem and improving customer access.
HIMS describes itself as a telehealth company providing digital healthcare services, with weight management treatments forming an increasingly central pillar of its business model.
The combination of the Novo Nordisk partnership and the Eucalyptus acquisition signals an aggressive push by HIMS to establish itself as a dominant player in both domestic and international digital health markets.
Analysts are watching closely whether the company can convert these strategic moves into sustained earnings growth, particularly as competition in the weight-loss drug sector intensifies.
The raised Barclays price target reflects growing confidence that HIMS has the platform and partnerships in place to capitalize on one of the fastest-growing segments in healthcare.
