Hims & Hers Health's stock surged as much as 13% following an FDA advisory panel's vote to recommend adding the peptide BPC-157 to the 503A Bulks List. This decision allows state-licensed compounding pharmacies to produce custom formulations of BPC-157, potentially unlocking a new revenue stream for the wellness company. At the time of the increase, shares were trading near $32.75, valuing the company at $7.6 billion.

The FDA’s Pharmacy Compounding Advisory Committee voted 8-6, with one abstention, in favor of including BPC-157 on the list. This result took many by surprise because earlier FDA briefing documents had raised safety concerns and suggested the committee might reject the peptide. this vote was the first of seven peptide-related decisions over two days, with the committee also approving KPV, another peptide, by the same margin.

Unlike the FDA reviewers who had recommended rejecting all seven substances under consideration, the committee chose a different path. For Hims, this opens doors to expand its peptide offerings. The company, which acquired a peptide manufacturing plant in California in 2025, had delayed launching these products pending clearer regulatory guidance. The approval now gives Hims the go-ahead to use its existing customer base, which has shown growing interest in peptide treatments.

Market Reaction and Analyst Views

Canaccord Genuity reaffirmed its Buy rating and raised the price target to $40, highlighting the vote as a positive step that could unlock a substantial addressable market for Hims. They also pointed out that HIMS outperformed major market indices by several hundred basis points following the committee's decisions.

However, caution remains among some analysts. Citi's Daniel Grosslight increased his price target from $28 to $35 but warned that expectations are already high ahead of Hims' August 10 earnings report. He mentioned limited short-term upside due to factors like high customer churn and a shift towards monthly shipments. Truist Securities kept a Hold rating at $23, citing ongoing regulatory uncertainty, while Bank of America raised its target to $37 but maintained a Neutral rating, noting concerns about customer retention for new oral products.