HC Wainwright Forecasts Strong Price Appreciation for LifeMD (NASDAQ:LFMD) Stock

LifeMD (NASDAQ:LFMD) had its price objective increased by research analysts at 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 target indicates a potential upside of 147.35% from the stock’s current price.

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

LifeMD Stock Down 1.9 %

LFMD stock opened at $5.66 on Wednesday. The company has a market capitalization of $245.15 million, a price-to-earnings 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 firm has a 50 day moving average of $5.68 and a two-hundred day moving average of $5.38.

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 firm had revenue of $64.26 million for the quarter, compared to the consensus estimate of $57.43 million. On average, research analysts expect that LifeMD will post -0.56 EPS for the current fiscal year.

Insider Transactions at LifeMD

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Connective Capital Management LLC acquired a new stake in shares of LifeMD during the 4th quarter valued at about $162,000. State of Wyoming boosted its position in shares of LifeMD by 30.5% during the 4th quarter. State of Wyoming now owns 32,689 shares of the company’s stock valued at $162,000 after acquiring an additional 7,635 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new stake in shares of LifeMD during the 4th quarter valued at about $120,000. ProShare Advisors LLC acquired a new stake in shares of LifeMD during the 4th quarter valued at about $51,000. Finally, Nuveen Asset Management LLC boosted its position in shares of LifeMD by 45.6% during the 4th quarter. Nuveen Asset Management LLC now owns 413,501 shares of the company’s stock valued at $2,047,000 after acquiring an additional 129,470 shares in the last quarter. Institutional investors own 35.52% of the company’s stock.

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.