LifeMD, Inc. (NASDAQ:LFMD) Receives $11.14 Average Target Price from Analysts

LifeMD, Inc. (NASDAQ:LFMD) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.14.

Several analysts recently weighed in on the stock. KeyCorp cut their price objective on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Lake Street Capital initiated coverage on LifeMD in a report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target on the stock. Mizuho started coverage on LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of LifeMD in a research report on Monday, November 11th.

LifeMD Stock Performance

LFMD stock opened at $6.86 on Monday. LifeMD has a 1 year low of $3.99 and a 1 year high of $12.88. The stock has a market capitalization of $297.12 million, a price-to-earnings ratio of -10.72 and a beta of 1.50. The stock’s fifty day moving average is $5.45 and its two-hundred day moving average is $5.36.

Insiders Place Their Bets

In related news, CEO Justin Schreiber sold 25,000 shares of the 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. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.97% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LifeMD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of LifeMD during the second quarter worth approximately $93,000. SG Americas Securities LLC acquired a new stake in shares of LifeMD during the 3rd quarter valued at $70,000. CWM LLC purchased a new position in shares of LifeMD during the 3rd quarter valued at $59,000. nVerses Capital LLC acquired a new position in shares of LifeMD in the third quarter worth $46,000. Finally, Evernest Financial Advisors LLC purchased a new stake in shares of LifeMD during the third quarter worth $89,000. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

LifeMD Company Profile

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.