Hims stock popped Wednesday after the telemedicine giant announced its long-awaited foray into offering testosterone replacement therapy.
The announcement was highly anticipated given Hims & Hers Health has long discussed its plan to launch a testosterone replacement therapy, or TRT. There will be four options, offered in partnership with privately held Marius Pharmaceuticals. Pricing has yet to be outlined, but will likely run in the range of $99 to $199 per month, Leerink Partners analyst Michael Cherny said.
"This will certainly help sustain growth, particularly into FY26 and beyond, but we think ultimately the stock performance is much more tied to the weight management growth durability/upside potential," Cherny said in a client note.
On the stock market today, Hims stock advanced 0.7% to 48.10, paring back from much steeper gains. Shares briefly topped their 50-day moving average line, but closed below that mark, according to MarketSurge.
Partnering With Marius
Through a collaboration with Marius, Hims will offer a pill called Kyzatrex beginning in 2026. Also next year, Hims plans to introduce an injectable testosterone. Starting today, the company will sell a compounded version of enclomiphene and a combination of enclomiphene with tadalafil.
Enclomiphene restores natural testosterone production, while Kyzatrex has been shown to restore testosterone levels in up to 96% of men. On average, it doubles free testosterone.
Patients will start with an at-home blood test, get their results in days and then find a treatment plan, if eligible. According to Leerink's Cherny, who cited a Bloomberg story, prices have yet to be finalized, but could cost $99 a month for a 10-month plan, $139 monthly for five months and $199 a month for three months.
Cherny kept his market perform rating on Hims stock.
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