LifeMD, Inc. (NASDAQ:LFMD) Receives Average Rating of “Buy” from Brokerages

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $11.43.

A number of equities analysts recently weighed in on LFMD shares. KeyCorp reduced their price target on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. HC Wainwright lifted their price target on shares of LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Lake Street Capital assumed coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective for the company. B. Riley raised shares of LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 target price on shares of LifeMD in a research note on Tuesday, March 11th.

LifeMD Trading Down 4.1 %

LifeMD stock opened at $4.95 on Tuesday. The firm has a market cap of $220.69 million, a PE ratio of -7.73 and a beta of 2.22. The stock’s 50 day simple moving average is $5.85 and its two-hundred day simple moving average is $5.44. LifeMD has a 12 month low of $3.99 and a 12 month high of $12.88.

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

Insider Buying and Selling

In other LifeMD news, CMO Jessica Friedeman sold 30,000 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.66, for a total transaction of $169,800.00. Following the transaction, the chief marketing officer now owns 170,000 shares of the company’s stock, valued at approximately $962,200. The trade was a 15.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Justin Schreiber sold 50,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $7.55, for a total value of $377,500.00. Following the completion of the sale, the chief executive officer now owns 2,653,715 shares of the company’s stock, valued at approximately $20,035,548.25. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LifeMD

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of LifeMD during the 1st quarter valued at approximately $35,000. ProShare Advisors LLC purchased a new stake in LifeMD in the fourth quarter valued at $51,000. Oxford Asset Management LLP acquired a new position in shares of LifeMD in the 4th quarter valued at $52,000. Balyasny Asset Management L.P. purchased a new position in shares of LifeMD during the 4th quarter worth $52,000. Finally, Intech Investment Management LLC acquired a new stake in shares of LifeMD during the 3rd quarter worth about $54,000. 35.52% of the stock is currently owned by institutional investors and hedge funds.

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.