Brokerages Set LifeMD, Inc. (NASDAQ:LFMD) Target Price at $12.00

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) has been given an average rating of "Buy" by the seven analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $12.86.

LFMD has been the topic of several research reports. HC Wainwright restated a "buy" rating and set a $14.00 price objective on shares of LifeMD in a report on Wednesday, April 30th. Lake Street Capital set a $18.00 price target on LifeMD and gave the stock a "buy" rating in a report on Thursday. Finally, BTIG Research increased 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.

Insider Activity at LifeMD

In related news, insider Stefan Galluppi sold 85,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $12.38, for a total transaction of $1,052,300.00. Following the sale, the insider directly owned 80,449 shares in the company, valued at approximately $995,958.62. This represents a 51.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marc David Benathen sold 50,000 shares of LifeMD stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $14.01, for a total value of $700,500.00. Following the completion of the transaction, the chief financial officer owned 339,554 shares of the company's stock, valued at approximately $4,757,151.54. This trade represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 346,995 shares of company stock worth $4,119,172. Company insiders own 18.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LFMD. GAMMA Investing LLC purchased a new stake in shares of LifeMD in the first quarter worth about $35,000. CWM LLC boosted its stake in LifeMD by 17.5% during the first quarter. CWM LLC now owns 9,050 shares of the company's stock valued at $49,000 after buying an additional 1,351 shares during the period. ProShare Advisors LLC purchased a new position in LifeMD during the fourth quarter worth about $51,000. Oxford Asset Management LLP bought a new position in LifeMD in the 4th quarter worth about $52,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of LifeMD in the 4th quarter valued at about $52,000. Institutional investors own 35.52% of the company's stock.

LifeMD Stock Up 1.5%

LFMD traded up $0.18 during trading on Thursday, reaching $11.96. 1,132,402 shares of the stock traded hands, compared to its average volume of 1,083,815. The stock's 50-day moving average is $11.62 and its 200 day moving average is $7.68. LifeMD has a 12 month low of $3.99 and a 12 month high of $15.84. The stock has a market capitalization of $543.56 million, a PE ratio of -35.18 and a beta of 2.40.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $62.47 million. As a group, equities research analysts anticipate that LifeMD will post -0.56 EPS for the current year.

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.