HIMS Shares Seeing Buy the Rumor Rally, This is Their Target

Shares of healthcare company Hims & Hers (HIMS) led the market higher on Friday with gains of almost 8%.  The move completes a 50% rally over the last three weeks resulting in new all-time highs for the stock.

Hims, Inc. is a telehealth company, primarily targets men's wellness and healthcare. The company offers treatments for issues like hair loss and erectile dysfunction.  

Hims leverages online consultations and customized treatment plans.  Their model capitalizes on convenience and privacy, addressing stigmas in men's health and expanding accessibility.

Hims & Hers has been impressing investors with its earnings results for the last year.

The company moved into being profitable three quarters ago as business in the GLP-1 industry exploded.  Since then, the company has beaten its earnings estimates with quarterly revenue growing by an average of 58% each of the last three quarters.

Today’s rally breaks the stock into new-high territory in a clear move by investors to start buying HIM stock ahead of its next quarterly report on March 3.

The move is also being fueled by a positive shift in the stock’s momentum.

Just last week, HIMS short-term 20-day moving average shifted into a bullish trend.  That trend has now combined with the stock’s 50-day moving average to identify a strengthening in the stock’s positive momentum.

Investors saw a similar technical pattern in October 2024 ahead of a 100% higher move that ended in December.

Shares are now breaking through the $37.50 price on their way towards a short-term target of $40.

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