Lake Street Capital Issues Pessimistic Forecast for LifeMD (NASDAQ:LFMD) Stock Price

Key Points

• Lake Street Capital has lowered its price target for LifeMD (NASDAQ:LFMD) from $18.00 to $14.00, while still maintaining a "buy" rating, indicating a potential upside of 114.40% from the stock’s previous close.
• LifeMD's stock has seen a significant drop of 44.8% recently, trading at $6.53, and has a 52-week range of $3.99 to $15.84.
• Insider trading activity includes CEO Justin Schreiber selling 25,000 shares at an average price of $13.38, while CFO Marc David Benathen sold 50,000 shares at an average price of $14.01.

LifeMD (NASDAQ:LFMD - Free Report) had its price target reduced by Lake Street Capital from $18.00 to $14.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of LifeMD from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. BTIG Research lifted their price objective on shares of LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of LifeMD in a research note on Wednesday, April 30th. Finally, KeyCorp decreased their price objective on shares of LifeMD from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.86.

LifeMD Price Performance

Shares of NASDAQ LFMD traded up $0.29 during midday trading on Wednesday, reaching $6.90. The company's stock had a trading volume of 1,731,939 shares, compared to its average volume of 1,648,949. The company has a debt-to-equity ratio of 9.21, a quick ratio of 0.77 and a current ratio of 0.77. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $15.84. The business's 50 day moving average price is $11.97 and its two-hundred day moving average price is $8.46. The company has a market cap of $313.38 million, a P/E ratio of -32.65 and a beta of 1.72.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.05. The business had revenue of $65.70 million during the quarter, compared to analyst estimates of $62.47 million. On average, analysts forecast that LifeMD will post -0.56 EPS for the current fiscal year.

Insider Activity at LifeMD

In other news, CEO Justin Schreiber sold 25,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $13.38, for a total transaction of $334,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,500,721 shares in the company, valued at approximately $33,459,646.98. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Harold Yecies sold 15,000 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $12.25, for a total transaction of $183,750.00. Following the transaction, the insider owned 16,100 shares of the company's stock, valued at $197,225. This trade represents a 48.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,000 shares of company stock valued at $3,564,550 over the last three months. 18.40% of the stock is currently owned by corporate insiders.

Institutional Trading of LifeMD

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of LifeMD in the first quarter worth $35,000. CWM LLC grew its stake in shares of LifeMD by 17.5% in the first quarter. CWM LLC now owns 9,050 shares of the company's stock worth $49,000 after purchasing an additional 1,351 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of LifeMD by 148.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,656 shares of the company's stock worth $50,000 after purchasing an additional 2,185 shares during the last quarter. ProShare Advisors LLC bought a new stake in shares of LifeMD in the fourth quarter worth $51,000. Finally, Oxford Asset Management LLP bought a new stake in shares of LifeMD in the fourth quarter worth $52,000. Institutional investors 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.