Hims & Hers stock plunges after FDA panel votes against adding key peptide to compounding list

Wajeeh Khan Fri, July 24, 2026 at 12:46 PM PDT | 2 min read

HIMS: -14.20%

Hims & Hers (HIMS) stock fell sharply on July 24 after an FDA advisory panel voted against adding emideltide to the agency's 503A Bulks List. That list determines which substances licensed U.S. pharmacies may use to compound custom peptide treatments.

The same panel had narrowly voted in favor of adding four other peptides—including BPC-157—to the list, which had sent HIMS shares up more than 10%. However, the rejection of emideltide "renewed doubts" about the regulatory path for the company's peptide business.

At the time of writing, Hims & Hers shares are down more than 25% from their recent high.

Why Did the Panel Vote Against Emideltide?

Panel members cited several concerns in their decision to reject emideltide:

• Insufficient safety profile
• Potential manufacturing inconsistencies
• Lack of compelling clinical data proving superior efficacy over standard FDA-approved alternatives

While the committee's recommendation is non-binding, the FDA typically aligns its final decision with the panel's verdict. This signals that strict restrictions on emideltide for compounding are likely.

The announcement caused HIMS stock to crash through its 50-day moving average (MA) on Friday, indicating that bearish momentum could continue in the near term.

What the Recommendation Means for HIMS Shares

The FDA panel's recommendation is decidedly bearish for HIMS shares, as it threatens one of the company's fastest-growing, high-margin revenue opportunities.

Hims & Hers has increasingly relied on personalized compounded therapies to expand beyond its core telehealth offerings and capture surging demand for weight-loss and wellness treatments.

A final FDA decision consistent with the panel's verdict would restrict licensed pharmacies from using emideltide, limiting the firm's ability to broaden its peptide portfolio and launch new customized therapies.

In short, the setback raises regulatory uncertainty around Hims & Hers' compounding strategy, potentially:

• Slowing future product expansion
• Constraining sales growth
• Weighing on investor confidence in its long-term wellness ambitions

What's the Consensus Rating on Hims & Hers Stock?

Heading into Friday, Wall Street had a consensus "Hold" rating on Hims & Hers stock, with a mean price target of nearly $30.

However, it is reasonable to assume that downward revisions will follow now that the FDA panel has voted against adding emideltide to the agency's 503A Bulks List.

On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.

This article was originally published on Barchart.com.