HIMS Stock Just Jumped 9% — Here’s Why Wall Street Is Finally Paying Attention

The analyst upgrade, the blockbuster partnership, and the options market lighting up like a switchboard are examples of a specific type of Wall Street moment where everything clicks at once. That day came on April 24, 2026, for Hims & Hers Health. Over 243,000 options contracts were traded as HIMS stock increased by about 9% in a single session, reaching $30.74. That kind of day feels more like a signal than a blip for a company that was sitting close to $13 only months ago.

Naming the immediate catalysts is fairly simple. What had previously seemed like a speculative recovery story gained institutional credibility when JPMorgan began coverage with an Overweight rating and a $35 price target. Then came the collaboration with Eli Lilly; doctors using the Hims platform can now prescribe Foundayo, KwikPen devices, and Zepbound vials, and patients can fill those prescriptions through LillyDirect at clear self-pay prices. It’s a seamless integration, and it’s crucial for a telehealth platform that wants to become a major force in weight management.

This is especially intriguing because of the timing. A month prior, Hims had announced a similar deal with Novo Nordisk that would provide its members with oral semaglutide formulations and Wegovy. In less than thirty days, two significant GLP-1 partnerships indicate that this isn’t coincidental deal-making. By focusing the company’s weight loss offerings on branded, FDA-approved drugs instead of the compounded substitutes that previously attracted regulatory attention, management is obviously creating something intentional. Even if it causes some short-term revenue friction as the mix changes, it’s a better position.

It’s difficult to ignore how drastically sentiment has changed. The stock plummeted from its July peak of $70.43 to the mid-teens for the majority of late 2025. Such a decline leaves scars, not only on the stock chart but also in the way analysts and ordinary investors discuss the company. Hims & Hers went from being a hot telehealth disruptor to a cautionary tale about overvaluation at some point. In the week prior to the Lilly announcement, it increased by about 35% and decisively surpassed $30, demonstrating that it is now reclaiming that narrative.

Texture is added by the implied volatility image. The options market is basically telling you that traders anticipate something significant to happen around the May 11 earnings announcement at 110.27, a full 5.8 points above where it had been sitting. The put-call ratio of 0.33 strongly favors calls, indicating cautious optimism as opposed to overt euphoria. Although they haven’t completely given up on their hedges, traders are leaning bullish. It’s not a panic buy, but a calculated wager.

Following the company, analysts predict that revenues will increase from about $2.3 billion in 2025 to $3.2 billion by 2027, with EBITDA estimates of about $414 million during that time. These are actual figures for a San Francisco-based company with just over 2,400 employees and a subscriber base that now includes Europe, which hardly existed ten years ago. It’s still genuinely unclear if Hims will be able to meet those projections in terms of cost control, subscriber retention, and navigating GLP-1 competition from much larger players.

The market seems to be offering Hims & Hers a conditional second chance. The demand for Wegovy prescriptions alone may surpass 100,000 per month, the GLP-1 wave is real, and the current FDA leadership’s regulatory framework seems slightly more conducive to the growth of telehealth. In order to position itself for a future in which it has more control over its own supply chain, the company even discreetly purchased a peptide manufacturing facility in California. That’s the kind of information that probably ought to make headlines but doesn’t.

What actually happens on May 11 will determine whether HIMS stock maintains these gains or returns to its lows. The story has changed, at least for the time being.