LifeMD (NASDAQ:LFMD) Price Target Lowered to $9.00 at HC Wainwright

Key Points

• HC Wainwright lowered LifeMD’s price target to $9 from $10 but maintained a “buy” rating, implying 164.71% upside from the stock’s previous close.
• Analyst sentiment is mixed: LifeMD has a consensus “Moderate Buy” rating and an average price target of $8, with eight Buy ratings and two Sell ratings.
• LifeMD’s latest quarterly results fell short of expectations, reporting a $0.16 per-share loss versus the $0.15 consensus estimate and revenue of $47.28 million versus $49.16 million expected.

LifeMD (NASDAQ:LFMD - Get Free Report) had its price target cut by investment analysts at HC Wainwright from $10.00 to $9.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 164.71% from the stock's previous close.

Several other equities research analysts have also weighed in on LFMD. Wall Street Zen lowered LifeMD from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. Lake Street Capital set a $5.00 price target on LifeMD in a research note on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of LifeMD in a report on Tuesday. BTIG Research reduced their price objective on shares of LifeMD from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Zacks Research downgraded shares of LifeMD from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $8.00.

LifeMD Stock Performance

Shares of LFMD stock opened at $3.40 on Friday. LifeMD has a 1 year low of $2.56 and a 1 year high of $7.32. The business's fifty day moving average is $4.40 and its 200-day moving average is $3.97. The stock has a market cap of $164.42 million, a PE ratio of -67.99 and a beta of 2.02.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). LifeMD had a negative return on equity of 150.35% and a net margin of 0.10%.The firm had revenue of $47.28 million for the quarter, compared to analyst estimates of $49.16 million. Equities research analysts predict that LifeMD will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On LifeMD

Several hedge funds have recently bought and sold shares of LFMD. Federated Hermes Inc. boosted its holdings in shares of LifeMD by 278.1% during the fourth quarter. Federated Hermes Inc. now owns 980,285 shares of the company's stock worth $3,343,000 after purchasing an additional 721,018 shares during the period. Prescott Group Capital Management L.L.C. acquired a new stake in shares of LifeMD during the 4th quarter valued at $2,344,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of LifeMD by 1,767.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 434,937 shares of the company's stock valued at $5,924,000 after acquiring an additional 411,651 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of LifeMD by 581.2% during the second quarter. JPMorgan Chase & Co. now owns 412,571 shares of the company's stock worth $5,619,000 after acquiring an additional 352,004 shares in the last quarter. Finally, Whetstone Capital Advisors LLC boosted its position in LifeMD by 89.6% during the fourth quarter. Whetstone Capital Advisors LLC now owns 703,053 shares of the company's stock valued at $2,397,000 after purchasing an additional 332,269 shares during the last quarter. 35.52% of the stock is owned by hedge funds and other institutional investors.

About LifeMD

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.

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