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

Page: https://stenobird.com/podcast/hims-house-7026583/ryan-macdonald-peptides-could-be-a-30b-market-and-hims-is-positioned-to-win-meaningful-share
Text version: https://stenobird.com/podcast/hims-house-7026583/ryan-macdonald-peptides-could-be-a-30b-market-and-hims-is-positioned-to-win-meaningful-share.md
Podcast: [Hims House](https://stenobird.com/podcast/hims-house-7026583)
Published: 2026-07-07T11:33:01+00:00
Episode link: https://podcasters.spotify.com/pod/show/jonathan-stern1/episodes/Ryan-MacDonald-Peptides-could-be-a-30B-market--and-Hims-is-positioned-to-win-meaningful-share-e3lo7si
Audio file: https://anchor.fm/s/10e9c0874/podcast/play/122477906/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-6-6%2F427479991-44100-2-48e616fed397a.mp3
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JSON: https://stenobird.com/v1/public/podcasts/hims-house-7026583/episodes/ryan-macdonald-peptides-could-be-a-30b-market-and-hims-is-positioned-to-win-meaningful-share
Duration seconds: 3630

## Resource

In Hims House episode 73, Jonathan Stern talks with Needham’s Ryan MacDonald, the lead Hims & 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. 00:00 - Sponsor: Superpower 01:58 - FDA briefing document breakdown 04:15 - The timeline of peptide approval 09:50 - Category 1 vs 503A Bulks List 11:34 - When will telehealths start to sell peptides? 14:25 - Sizing the peptide market 19:31 - Hims’ peptide share 21:55 - Peptide pricing & margins 24:45 - Peptides likely a 2027 revenue story 29:58 - Hims-Novo deal check-in 32:11 - Branded vs compounded GLP-1s margins 35:27 - Pills vs injectables 40:43 - International 42:04 - Hims' moat 46:22 - 2030 targets and valuation models 50:32 - Shorts, insiders, and catalysts 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.

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