Hims & Hers Health Stock Tumbles as GoodRx Soars on Novo Nordisk Deal – A Tale of Two Tickers

Wall Street's bipolar reaction to healthcare plays hits hard today.

Hims & Hers Health (NYSE: HIMS) shares got dumped like yesterday's altcoins while GoodRx (NASDAQ: GDRX) rode the pharma partnership wave. The culprit? Novo Nordisk's latest chess move in the weight-loss drug wars.

When Big Pharma comes knocking...

GoodRx's 15% pop shows what happens when a discount prescription platform lands a whale client. Meanwhile, Hims & Hers' 8% nosedive proves even telehealth darling's aren't immune to sector rotation. Funny how 'disruptive healthcare' still dances to old pharma's tune.

Bonus cynicism: Nothing cures stock woes quite like a hot pharma deal—unless you're retail holding the bag.

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Hims & Hers’ Loss is GoodRx’s Gain

With the demand for GLP-1 medications at peak, the sudden end of Hims & Hers Health’s partnership with Novo Nordisk was a major disappointment. Novo Nordisk raised concerns about HIMS’ illegal mass compounding and deceptive marketing practices. Moreover, Hims & Hers Health is now facing legal risks related to this matter.

HIMS’ loss is GoodRx’s gain. Notably, GoodRx believes that its collaboration with Novo Nordisk lowers the price available on its platform for two of the most in-demand GLP-1 medications nationwide and expands access for those who lack adequate insurance coverage. The company also boasted that the deal marks the first time Ozempic has been made available to eligible self-paying patients at $499 per month.

Meanwhile, Hims & Hers Health recently disappointed investors with its mixed Q2 results. The company’s earnings fell short of expectations amid continued investments in growth initiatives.

Truist Lowers HIMS Stock Price Target

On Monday, Truist analyst Jailendra Singh lowered the price target for Hims & Hers Health stock to $37 from $48 and maintained a Hold rating. Singh highlighted that intra-quarter Truist Card Data indicates that the company’s GLP-1-related revenues may step up in the third quarter.

The Card Data also suggests a further modest increase in Q4, mainly driven by realizing deferred revenue, though the estimated revenue mix for the second half makes Singh less constructive about the year-over-year growth in 2026.

Is HIMS a Good Stock to Buy?

Given ongoing challenges and legal risks, Wall Street has a Hold consensus rating on Hims & Hers Health stock based on eight Holds, two Buys, and two Sell recommendations. The average HIMS stock price target of $48.18 indicates about 7% upside potential. Despite the recent pullback, HIMS stock is still up by about 87% year-to-date.