LifeMD (NASDAQ:LFMD) Given New $14.00 Price Target at HC Wainwright

LifeMD (NASDAQ:LFMD) had its target price lifted by HC Wainwright from $12.00 to $14.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 147.35% from the stock’s current price.

A number of other research firms have also commented on LFMD. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a research report on Tuesday. Lake Street Capital started coverage on shares of LifeMD in a research report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price target on the stock. Mizuho initiated coverage on shares of LifeMD in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price target on the stock. Finally, KeyCorp dropped their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.43.

LifeMD Stock Down 1.9 %

NASDAQ:LFMD opened at $5.66 on Wednesday. The firm has a market cap of $245.15 million, a PE ratio of -8.84 and a beta of 1.50. LifeMD has a 12 month low of $3.99 and a 12 month high of $12.88. The company’s 50-day moving average price is $5.68 and its two-hundred day moving average price is $5.38.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. On average, research analysts expect that LifeMD will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Justin Schreiber sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $5.19, for a total transaction of $129,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,703,715 shares of the company’s stock, valued at $14,032,280.85. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 15.97% of the company’s stock.

Institutional Investors Weigh In On LifeMD

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of LifeMD by 496.4% during the third quarter. JPMorgan Chase & Co. now owns 88,173 shares of the company’s stock worth $462,000 after buying an additional 73,389 shares during the last quarter. State Street Corp raised its stake in shares of LifeMD by 20.0% during the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after buying an additional 192,861 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of LifeMD by 852.6% during the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after buying an additional 108,822 shares during the last quarter. Geode Capital Management LLC increased its stake in LifeMD by 11.4% in the third quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock valued at $4,293,000 after purchasing an additional 83,598 shares in the last quarter. Finally, Mirador Capital Partners LP increased its stake in LifeMD by 139.3% in the fourth quarter. Mirador Capital Partners LP now owns 106,059 shares of the company’s stock valued at $525,000 after purchasing an additional 61,731 shares in the last quarter. 35.52% of the stock is owned by institutional investors.

About LifeMD

LifeMD, Inc operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for medical care in the United States. The company offers telehealth platform comprising RexMD, a men's telehealth brand that provides access to virtual medical treatment for a variety of men's health needs from licensed physician; ShapiroMD that provides virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and medical devices treating male and female hair loss; NavaMD, a female-oriented tele-dermatology that offers virtual medical treatment from dermatologists and other providers; and prescription oral and compounded topical medications to treat aging and acne; and Cleared which provides personalized treatments for allergy, asthma and immunology, including in-home tests for both environmental and food allergies, prescriptions for allergies and asthma and immunotherapies for treating chronic allergies.