LifeMD (NASDAQ:LFMD) Price Target Raised to $18.00

LifeMD (NASDAQ:LFMD - Get Free Report) had its price objective increased by equities research analysts at BTIG Research from $15.00 to $18.00 in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a "buy" rating on the stock. BTIG Research's price target suggests a potential upside of 20.28% from the stock's current price.

LFMD has been the subject of a number of other reports. B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. HC Wainwright reissued a "buy" rating and set a $14.00 price objective on shares of LifeMD in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $12.00.

LifeMD Trading Up 10.2%

Shares of NASDAQ:LFMD traded up $1.39 during trading on Wednesday, hitting $14.97. 1,246,926 shares of the stock were exchanged, compared to its average volume of 1,038,318. The company has a fifty day moving average price of $9.18 and a two-hundred day moving average price of $6.83. LifeMD has a 12-month low of $3.99 and a 12-month high of $15.09. The company has a market cap of $680.16 million, a PE ratio of -44.14 and a beta of 2.42.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.47 million. Equities research analysts anticipate that LifeMD will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Justin Schreiber sold 21,995 shares of the firm's 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 transaction, the chief executive officer now directly owns 2,553,726 shares of the company's stock, valued at approximately $19,229,556.78. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Harold Yecies sold 15,000 shares of LifeMD stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $12.25, for a total transaction of $183,750.00. Following the completion of the sale, the insider now owns 16,100 shares of the company's stock, valued at approximately $197,225. The trade was a 48.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 196,995 shares of company stock valued at $2,102,422. 18.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On LifeMD

A number of hedge funds have recently added to or reduced their stakes in LFMD. Marshall Wace LLP raised its stake in LifeMD by 522.9% in the fourth 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 in the last quarter. Nuveen LLC acquired a new position in LifeMD during the first quarter valued at approximately $1,545,000. Royce & Associates LP raised its position in LifeMD by 23.9% during the fourth 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock worth $4,610,000 after purchasing an additional 165,378 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of 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 in 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.

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