Why Hims & Hers Stock Tumbled on Tuesday

Group 1 - Bank of America raised its price target for Hims & Hers Health stock by only $1 to$22 per share, which is $10 less than the current stock value [1] - Bank of America reiterated its stance that Hims & Hers stock is a sell or "underperform" [2] - GLP-1 sales growth for Hims & Hers accelerated by 124% year over year in February, contributing to 45% of total revenue for that month [2] Group 2 - The spike in GLP-1 sales was primarily due to heavy advertising during the Super Bowl, and future sales may not sustain similar levels [3] - The FDA is ending declarations that allow drug compounding companies like Hims & Hers to produce duplicates of patented drugs, which may impact future sales [3] - Hims & Hers stock is currently valued at 65 times trailing earnings, raising questions about its worth if growth slows [4]