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FDA Buzz Sends Health and Wellness Stock Surging
HIMSHims(HIMS) Schaeffers Investment Research·2024-10-14 15:03

Shares of Hims & Hers Health Inc (NYSE:HIMS) are popping 10% higher to trade at 20.50thismorning,runninghigheroffgoodnewsfromtheFoodandDrugAdministration(FDA).TheFDAannounceditwillallowcompoundingpharmaciestocreateandselltheirownversionofEliLilly′s(LLY)weight−lossdrugMounjaro.Inresponse,HIMSisenjoyingahealthybullgap,pacingtowarditshighestclosesinceJuly,andhasnowbrokenabovetheresistant20.50 this morning, running higher off good news from the Food and Drug Administration (FDA). The FDA announced it will allow compounding pharmacies to create and sell their own version of Eli Lilly's (LLY) weight-loss drug Mounjaro. In response, HIMS is enjoying a healthy bull gap, pacing toward its highest close since July, and has now broken above the resistant 20 level. The stock sports a 230% year-over-year gain, but stil ...