Hims & Hers stock rises 2.2% after download surge

Hims & Hers Health stock rose 2.2% on Monday after Morgan Stanley reported a 47% increase in app downloads in February. The growth was mainly driven by the "Hers" app, indicating new customer interest, particularly among women. The increase in downloads may have been influenced by advertising related to a sporting event. However, the FDA's recent rulings suggest that Hims & Hers may face challenges in selling certain drugs, which could impact future growth. Despite the positive download news, Morgan Stanley analyst Craig Hettenbach maintained a price target of $60 and kept the stock at an "equal weight" rating, citing concerns about its high valuation.