Brokerages Set LifeMD, Inc. (NASDAQ:LFMD) Target Price at $11.57

LifeMD, Inc. (NASDAQ:LFMD) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the stock, Marketbeat.com reports. One equities research 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 brokerages that have updated their coverage on the stock in the last year is $11.57.

A number of research analysts recently weighed in on the company. Mizuho assumed coverage on LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of LifeMD in a report on Monday, November 11th. Lake Street Capital assumed coverage on shares of LifeMD in a research note on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research note on Friday, September 20th.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $6.52, for a total transaction of $163,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,728,715 shares of the company’s stock, valued at approximately $17,791,221.80. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LifeMD

Several large investors have recently made changes to their positions in LFMD. JPMorgan Chase & Co. boosted its holdings in shares of LifeMD by 496.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 88,173 shares of the company’s stock worth $462,000 after buying an additional 73,389 shares during the last quarter. Barclays PLC grew its position in shares of LifeMD by 311.7% during the 3rd quarter. Barclays PLC now owns 49,017 shares of the company’s stock valued at $257,000 after acquiring an additional 37,112 shares during the period. Geode Capital Management LLC increased its stake in shares of LifeMD by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock worth $4,293,000 after purchasing an additional 83,598 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of LifeMD by 306.8% in the 3rd quarter. XTX Topco Ltd now owns 55,738 shares of the company’s stock worth $292,000 after purchasing an additional 42,037 shares during the period. Finally, State Street Corp lifted its stake in LifeMD by 20.0% in the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock valued at $6,055,000 after purchasing an additional 192,861 shares during the last quarter. 35.52% of the stock is owned by hedge funds and other institutional investors.

LifeMD Price Performance

Shares of NASDAQ LFMD opened at $5.22 on Friday. The firm has a market capitalization of $226.09 million, a P/E ratio of -8.16 and a beta of 1.38. The firm’s 50-day moving average price is $5.42 and its 200-day moving average price is $5.69. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 10.83. LifeMD has a 1-year low of $3.99 and a 1-year high of $12.88.

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.