Analysts Set LifeMD, Inc. (NASDAQ:LFMD) Target Price at $9.25

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.25.

A number of research firms recently weighed in on LFMD. KeyCorp dropped their price target on LifeMD from $12.00 to $8.00 and set an “overweight” rating for the company in a report on Wednesday, November 19th. Lake Street Capital dropped their target price on shares of LifeMD from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of LifeMD in a research report on Monday, December 29th. Zacks Research upgraded LifeMD from a “strong sell” rating to a “hold” rating in a report on Friday, December 19th. Finally, BTIG Research reduced their price target on shares of LifeMD from $18.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 18th.

LifeMD Price Performance

LifeMD stock opened at $2.67 on Friday. LifeMD has a one year low of $2.56 and a one year high of $15.84. The business has a 50 day simple moving average of $3.39 and a 200 day simple moving average of $4.81. The company has a market capitalization of $128.52 million, a PE ratio of -15.71 and a beta of 1.90.

Insider Buying and Selling at LifeMD

In other news, CMO Jessica Friedeman sold 15,000 shares of LifeMD stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $3.61, for a total value of $54,150.00. Following the sale, the chief marketing officer directly owned 205,000 shares in the company, valued at $740,050. This trade represents a 6.82% 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. 18.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LifeMD

Several hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in LifeMD by 148.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,656 shares of the company’s stock valued at $50,000 after purchasing an additional 2,185 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of LifeMD by 110.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company’s stock worth $64,000 after purchasing an additional 2,452 shares during the period. Caitong International Asset Management Co. Ltd increased its position in LifeMD by 1,004.9% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 5,171 shares of the company’s stock worth $70,000 after buying an additional 4,703 shares during the period. Quarry LP acquired a new stake in LifeMD in the 3rd quarter worth about $52,000. Finally, King Wealth Management Group acquired a new stake in shares of LifeMD in the third quarter valued at approximately $68,000. Institutional investors own 35.52% of the company’s stock.

LifeMD Company Profile

LifeMD (NASDAQ: LFMD) is a U.S.-based telehealth company that delivers on-demand, membership-based virtual healthcare services. Through its digital platform and mobile applications, LifeMD connects patients with board-certified healthcare providers for diagnosis, treatment and ongoing management of a range of acute and chronic conditions. The company’s core offering centers on personalized care plans supported by prescription fulfillment, lab testing and prescription delivery services.

LifeMD’s service portfolio spans several specialty areas, including men’s health, hormonal therapy, weight management and primary care.