Stock Market Today, March 9: Hims & Hers Health Soars on Novo Nordisk Weight-Loss Drug Deal

By Josh Kohn-Lindquist – Mar 9, 2026 at 6:05PM ESTExpandNYSE: HIMSHims & Hers HealthToday's Change(40.50%) $6.38Current Price$22.11Key Data PointsMarket Cap$3.6BDay's Range$20.98 - $23.4752wk Range$13.74 - $70.43Volume6.6MAvg Vol23MGross Margin60.86%Hims & Hers Health (HIMS +40.50%), a direct-to-consumer telehealth platform, closed Monday at $22.15, up 40.72%. The stock moved higher after announcing a collaboration with Novo Nordisk to sell branded GLP-1 weight-loss drugs. Investors are watching how the shift from compounded to FDA-approved medications affects growth and margins. Trading volume reached 168.1 million shares, about 557% above its three-month average of 25.6 million shares. Hims & Hers Health IPO'd in 2019 and has grown 126% since going public.How the markets moved todayThe S&P 500 rose 0.81% to 6,794, while the Nasdaq Composite gained 1.38% to finish at 22,696. Within telehealth and online pharmacy names, Teladoc Health closed at $5.30 (+4.33%) and American Well finished at $5.55 (+1.65%), trailing Hims & Hers Health’s sharp move.What this means for investorsNovo Nordisk dropped its patent infringement lawsuit against Hims & Hers after the two agreed to a deal under which Novo’s GLP-1 drug Ozempic would be sold on the latter’s platform, and Hims & Hers would stop marketing compounded versions of GLP-1s. HIMS stock soared 41% on the news today, while NVO inched 3% higher.Analysts at Needham and Citi responded positively, with the two investment firms raising their price targets on Hims & Hers stock to $30 and $24, respectively. HIMS stock remains down 62% from its 52-week high, but has removed what might’ve been the biggest headwind facing its stock. Now trading at just 20 times forward earnings, the growth stock’s risk-reward ratio is much more appealing now.Read NextMar 9, 2026 •By Geoffrey SeilerHims & Hers Health Shares Skyrocket on Novo Nordisk Deal, but Is the Stock Still a Buy?Mar 9, 2026 •By Travis HoiumHims & Hers Stock Pops 40%: Everything You Need to KnowFeb 27, 2026 •By Geoffrey SeilerDown 70% Over the Past Year, Can Hims & Hers Health Stock Bounce Back?Feb 27, 2026 •By Reuben Gregg BrewerGot $5,000? Hims & Hers Could Be a Direct‑to‑Consumer Health Moonshot in the MakingFeb 26, 2026 •By Rich SmithHims & Hers: The Telehealth Growth Story Younger Investors Can't Afford to IgnoreFeb 19, 2026 •By Travis HoiumHims & Hers HUGE Acquisition News!About the AuthorJosh Kohn-Lindquist is a contributing Motley Fool stock market analyst covering consumer goods, industrials, and technology stocks. Previously, Josh was a senior mutual fund accountant at Gemini Fund Services. He holds a bachelor’s degree in business management from the University of South Dakota.TMFJorykoX@JorykoliStocks MentionedHims & Hers HealthNYSE: HIMS$22.16(+40.79%)+$6.42*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.