** BofA Global Research says Hims & Hers Health's HIMS.N 2026 revenue outlook requires a significant GLP-1 ramp in the second-half of the year, lowers PT to $25 from $28

** HIMS said it expects annual revenue between $2.8 billion and $3 billion, compared with its previous forecast of $2.7 billion to $2.9 billion

** Brokerage says HIMS would need to add ~225k new oral Wegovy subscribers per quarter from Q2-Q4 to bridge the midpoint of 2026 sales forecast, representing ~45% of all new U.S. oral Wegovy cash-pay patients

** BofA says the step-up in subscription fee from $39 in month 1 to $149 in subsequent months will likely lead to rising customer churn, adding "retention will be the key determinant of success for the branded GLP-1 model"

** Including session moves, HIMS down 26.6% YTD