Ryan MacDonald: Peptides could be a $30B+ market, and Hims is positioned to win meaningful share

<p>Thanks to our partner:Superpower - https://superpower.com</p><p><br></p><p>In Hims House episode 73, Jonathan Stern talks with Needham’s Ryan MacDonald, the lead Hims &amp; Hers analyst with a $35 price target and Buy rating. They break down the latest peptide news, how the FDA/PCAC process actually works, and why peptides may be more of a 2027 revenue story for major telehealth platforms like Hims. They also size the peptide opportunity, debate Hims’ potential share, and dig into GLP-1s, the Novo partnership, branded vs compounded economics, competition, valuation, short interest, insider signals, and the catalysts that matter most. </p><p><br></p><p>00:00 - Sponsor: Superpower</p><p>01:58 - FDA briefing document breakdown</p><p>04:15 - The timeline of peptide approval </p><p>09:50 - Category 1 vs 503A Bulks List </p><p>11:34 - When will telehealths start to sell peptides? </p><p>14:25 - Sizing the peptide market</p><p>19:31 - Hims’ peptide share</p><p>21:55 - Peptide pricing &amp; margins</p><p>24:45 - Peptides likely a 2027 revenue story </p><p>29:58 - Hims-Novo deal check-in</p><p>32:11 - Branded vs compounded GLP-1s margins</p><p>35:27 - Pills vs injectables</p><p>40:43 - International</p><p>42:04 - Hims&#39; moat</p><p>46:22 - 2030 targets and valuation models</p><p>50:32 - Shorts, insiders, and catalysts</p><p><br></p><p>Disclaimer: This podcast is for informational and entertainment purposes only. Nothing discussed should be considered financial, investment, or legal advice. Always consult with a qualified professional before making financial decisions.</p>