LifeMD, Inc. (NASDAQ:LFMD) Receives $11.00 Average Price Target from Analysts

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) has been given an average rating of "Buy" by the six ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $11.00.

Several equities analysts have recently commented on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and set a $14.00 price target on shares of LifeMD in a research report on Wednesday, April 30th. Finally, B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th.

LifeMD Stock Performance

Shares of NASDAQ LFMD traded down $0.24 during midday trading on Friday, reaching $12.46. The company's stock had a trading volume of 1,283,198 shares, compared to its average volume of 1,031,622. The company has a market cap of $566.28 million, a P/E ratio of -19.47 and a beta of 2.42. The business's 50 day moving average price is $8.84 and its two-hundred day moving average price is $6.74. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $13.25.

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

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 21,995 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $7.53, for a total transaction of $165,622.35. Following the sale, the chief executive officer now owns 2,553,726 shares in the company, valued at approximately $19,229,556.78. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 96,995 shares of company stock worth $866,372. Corporate insiders own 18.40% of the company's stock.

Hedge Funds Weigh In On LifeMD

Several institutional investors and hedge funds have recently added to or reduced their stakes in LFMD. Marshall Wace LLP lifted its stake in LifeMD by 522.9% in the 4th quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock valued at $1,839,000 after purchasing an additional 311,841 shares during the last quarter. Nuveen LLC bought a new position in LifeMD in the 1st quarter valued at approximately $1,545,000. Royce & Associates LP lifted its stake in LifeMD by 23.9% in the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock valued at $5,524,000 after purchasing an additional 214,950 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in LifeMD by 21.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock valued at $4,610,000 after purchasing an additional 165,378 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in LifeMD by 45.2% in the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock valued at $2,524,000 after purchasing an additional 158,796 shares during the last quarter. 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.