What's Going On With HIMS Shares Today?

Hims & Hers Health, Inc. (NYSE:HIMS) experienced a significant decline in its stock price on Thursday. Here’s what you need to know.

What To Know: The sharp drop in Hims & Hers Health shares may have been influenced by broader market reactions to news from Eli Lilly and Co (NYSE:LLY) regarding the expected end of the shortage of its popular weight-loss drug, tirzepatide, which is marketed as Mounjaro for diabetes and Zepbound for weight management.

Eli Lilly CEO David Ricks announced in an interview with Bloomberg News that the drug shortage will end “very soon.” This development has significant implications for the weight-loss drug market, a sector in which Hims & Hers is also actively involved.

What Else: Additionally, Hims & Hers Health is also set to release its second-quarter earnings report on Monday, Aug. 5, after the market closes. The company is expected to report an estimated EPS of 4 cents and revenue of $299.942 million.

HIMS Price Action: Hims & Hers Health shares fell by 12.6% to $18.57, according to Benzinga Pro.

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Image: Courtesy of Hims & Hers Health, Inc.