Hims & Hers Health Secures $400M Working-Capital Facility with JPMorgan Chase
Hims & Hers Health, Inc.'s (HIMS) stock price surged to a fresh 2026 high after the company secured a $400 million working-capital facility with JPMorgan Chase. This financing arrangement allows Hims' healthcare and pharmacy operations to scale more efficiently.
The deal is an uncommitted facility, meaning JPMorgan isn't obligated to purchase every receivable offered by Hims. However, it does provide the company with a valuable working-capital tool as it continues to grow its business.
BofA raised its price target on HIMS to $36 from $25, citing 'solid early traction' in branded GLP-1s and improved credit card data. Canaccard also increased its target to $40 from $32, stating that improving credit card data and growing enthusiasm for peptides are driving the growth.
However, the company's peptide opportunity faces regulatory hurdles, with an FDA panel recommending against approval of several key compounds due to safety concerns. Despite this, analysts remain optimistic about Hims' prospects.