LifeMD (NASDAQ:LFMD) Price Target Raised to $14.00 at HC Wainwright

LifeMD (NASDAQ:LFMD) had its price target raised by analysts at HC Wainwright from $12.00 to $14.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 151.35% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Mizuho started coverage on shares of LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 target price for the company. KeyCorp reduced their price target on LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research report on Tuesday. Finally, Lake Street Capital initiated coverage on shares of LifeMD in a research note on Tuesday, December 10th. They issued a “buy” rating and a $12.00 target price for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.43.

LifeMD Stock Up 30.4 %

Shares of NASDAQ:LFMD opened at $5.57 on Wednesday. The company has a market capitalization of $241.25 million, a P/E ratio of -8.70 and a beta of 1.50. LifeMD has a 52-week low of $3.99 and a 52-week high of $12.88. The stock’s fifty day simple moving average is $5.65 and its 200-day simple moving average is $5.37.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings data on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $64.26 million for the quarter, compared to analyst estimates of $57.43 million. On average, sell-side analysts anticipate that LifeMD will post -0.56 earnings per share for the current year.

Insider Transactions at LifeMD

In other news, CEO Justin Schreiber sold 50,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $7.55, for a total value of $377,500.00. Following the sale, the chief executive officer now owns 2,653,715 shares in the company, valued at approximately $20,035,548.25. This represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.97% of the company’s stock.

Institutional Trading of LifeMD

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in shares of LifeMD by 496.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 88,173 shares of the company’s stock worth $462,000 after acquiring an additional 73,389 shares in the last quarter. State Street Corp lifted its stake in 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 purchasing an additional 192,861 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in LifeMD by 852.6% in the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after purchasing an additional 108,822 shares during the period. Geode Capital Management LLC increased its stake in LifeMD by 11.4% during 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 during the last quarter. Finally, Mirador Capital Partners LP raised its holdings in shares of LifeMD by 139.3% during the fourth quarter. Mirador Capital Partners LP now owns 106,059 shares of the company’s stock worth $525,000 after purchasing an additional 61,731 shares during the period. 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.