I am not sure on what really is your requirement, if you would like to insert a hyperlink in the form, you can use the Rich Text editor control and insert a link. Refer to screenshot below:
When you insert the link, you would be able to set the display text.
Kindly let me know if this is what you require
if hyperlink control has client ID stored in variable hyper,
adress can be get/set with NWF$('#' + hyper).val()
text can be get/set with NWF$('#' + hyper.replace('_NavigateUrl', '_Description')).val()
quick and dirty