Hims & Hers Launches Multi-Cancer Detection Test
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Should l Buy HIMS?
Source: Benzinga
- Multi-Cancer Test Launch: Hims & Hers announced the launch of the Galleri multi-cancer test, which screens for signals associated with over 50 types of cancer, aiming to fill gaps in routine screenings and enhance early detection capabilities.
- Annual Testing Convenience: The test can be taken annually, and while it does not detect all cancers, its technology predicts the origin of cancer signals, assisting users in identifying potential health issues earlier.
- Mixed Market Response: Despite the new product launch driving stock price momentum, Hims & Hers shares remain below their 20-day and 100-day simple moving averages, indicating market caution regarding future performance.
- Investor Sentiment Caution: Benzinga Edge scores reveal strong growth potential, yet low value and momentum scores suggest that investors should exercise caution in the current volatile environment.
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Analyst Views on HIMS
Wall Street analysts forecast HIMS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HIMS is 42.88 USD with a low forecast of 29.00 USD and a high forecast of 85.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
2 Buy
7 Hold
3 Sell
Hold
Current: 25.540
Low
29.00
Averages
42.88
High
85.00
Current: 25.540
Low
29.00
Averages
42.88
High
85.00
About HIMS
Hims & Hers Health, Inc. provides a consumer-first platform, which helps customers to fulfill their health and wellness needs. Its platform includes access to a provider network, a clinically focused electronic medical record system, digital prescriptions, cloud pharmacy fulfillment, and personalization capabilities. Its digital platform enables access to treatments for a range of chronic conditions, including those related to sexual health, hair loss, dermatology, mental health, and weight loss. It connects patients to licensed healthcare professionals who can prescribe medications when appropriate and prescriptions are fulfilled online through licensed pharmacies on a subscription basis. It also offers access to a range of health and wellness products designed to meet individual needs, which can include curated prescription and non-prescription products. Through its mobile applications, consumers can access a range of educational programs, wellness content, and other services.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Product Innovation: Hims & Hers announced the launch of an early detection cancer test today, marking a significant enhancement to its lab business and expected to provide a notable competitive advantage in the market.
- Disruptive Impact: This product launch does not rely on traditional pill sales or existing insurance frameworks, and it is poised to fundamentally alter the operational dynamics of the medical industry, drawing increased investor interest.
- Long-Term Value: Analysts suggest that this innovative product will significantly enhance Hims & Hers' business value over the next decade, facilitating the company's expansion into broader healthcare services.
- Market Reaction: While the specific market response has yet to fully materialize, the product's release is viewed as a crucial step in the company's strategic transformation, potentially leading to positive impacts on stock prices.
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- Multi-Cancer Test Launch: Hims & Hers announced the launch of the Galleri multi-cancer test, which screens for signals associated with over 50 types of cancer, aiming to fill gaps in routine screenings and enhance early detection capabilities.
- Annual Testing Convenience: The test can be taken annually, and while it does not detect all cancers, its technology predicts the origin of cancer signals, assisting users in identifying potential health issues earlier.
- Mixed Market Response: Despite the new product launch driving stock price momentum, Hims & Hers shares remain below their 20-day and 100-day simple moving averages, indicating market caution regarding future performance.
- Investor Sentiment Caution: Benzinga Edge scores reveal strong growth potential, yet low value and momentum scores suggest that investors should exercise caution in the current volatile environment.
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- Product Launch: Hims & Hers Health has announced the launch of the Galleri multi-cancer early detection test developed by GRAIL, designed to identify over 50 types of cancer through blood testing before symptoms appear, although it may produce false positives and negatives.
- Pricing Strategy: The test is offered at a $250 discount for customers enrolled in the company's Labs plans, aiming to attract more users to participate in cancer screening and enhance the company's competitive position in the health tech sector.
- Market Demand Response: HIMS CEO Andrew Dudum emphasized that despite significant advancements in cancer screening technology, many diagnoses should have been made earlier, indicating a pressing market need for innovative detection tools that could drive future growth for the company.
- Strategic Implications: By launching the Galleri test, Hims & Hers not only showcases its innovative capabilities in telehealth but also has the potential to enhance customer loyalty by improving cancer screening rates, thereby creating long-term value for the company.
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- Innovative Detection Technology: Hims & Hers has launched a multi-cancer detection test capable of identifying signals for over 50 types of cancer often before symptoms appear, leveraging its digital platform in conjunction with GRAIL's advanced screening technology to enhance early cancer detection rates.
- Market Demand Response: This test specifically targets cancer types that currently lack recommended screening methods, with GRAIL's Josh Ofman stating that the validated Multi-Cancer Early Detection (MCED) test will serve as a complement to recommended screenings, helping to improve early detection rates.
- Market Reaction: Despite HIMS trending on Stocktwits, the stock price edged down 1% after the opening bell, reflecting a cautious market sentiment towards the new product, which may impact investor confidence.
- Strategic Implications: By introducing this innovative detection tool, Hims & Hers not only strengthens its competitive position in the cancer screening sector but also has the potential to attract more users in the future, driving long-term growth for the company.
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