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

LifeMD (NASDAQ:LFMD) had its target price raised by HC Wainwright from $12.00 to $14.00 in a research note released on Wednesday, Marketbeat.com reports. HC Wainwright currently has a buy rating on the stock.

LFMD has been the subject of several other reports. Lake Street Capital initiated coverage on shares of LifeMD in a report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. KeyCorp lowered their price objective on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research report on Tuesday. Finally, 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 objective for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.43.

LifeMD Stock Up 3.6 %

Shares of LFMD stock opened at $5.77 on Wednesday. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88. The company has a market capitalization of $249.91 million, a P/E ratio of -9.02 and a beta of 1.50. The firm has a 50-day moving average price of $5.67 and a 200 day moving average price of $5.38.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share (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 the consensus estimate of $57.43 million. As a group, research analysts expect 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 LifeMD stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the sale, the chief executive officer now owns 2,653,715 shares in the company, valued at $20,035,548.25. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LifeMD

Several institutional investors have recently modified their holdings of LFMD. Los Angeles Capital Management LLC grew its position in shares of LifeMD by 852.6% during the 3rd 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 period. Royce & Associates LP grew its holdings in LifeMD by 14.6% during the third quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock valued at $4,721,000 after purchasing an additional 114,710 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in LifeMD by 6.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 765,916 shares of the company’s stock valued at $4,013,000 after purchasing an additional 48,201 shares during the period. Intech Investment Management LLC acquired a new position in LifeMD during the third quarter valued at approximately $54,000. Finally, Integrated Investment Consultants LLC acquired a new position in LifeMD during the third quarter valued at approximately $129,000. Institutional investors and hedge funds own 35.52% of the company’s stock.

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.