** Leerink Partners stimates a ~$2.2 bln telehealth peptide market, translating to ~$440 mln revenue and about $70 mln in core profit opportunity for Hims & Hers HIMS.N

** Brokerage says narrower prescribing could halve the opportunity to ~$1.1 bln market, ~$220 mln revenue and about $25 mln in core profit

** Says opportunity hinges on July FDA advisory panel weighing use of 7 peptides in compounding

** Notes commercialization unlikely before end-2026, with meaningful upside seen from 2027 and beyond

** Flags safety, efficacy and prescribing limits as key risks to uptake

** Leerink rates stock “market perform”, sees near-term focus on GLP-1 profitability

** Including session's move, stock down ~7% YTD