LifeMD (NASDAQ:LFMD) Shares Gap Up Following Analyst Upgrade

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) gapped up prior to trading on Wednesday after BTIG Research raised their price target on the stock from $15.00 to $18.00. The stock had previously closed at $13.58, but opened at $14.01. BTIG Research currently has a buy rating on the stock. LifeMD shares last traded at $14.80, with a volume of 685,148 shares traded.

Several other analysts also recently commented on the stock. B. Riley raised shares of LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a research note on Tuesday, March 11th. Finally, HC Wainwright restated a "buy" rating and set a $14.00 target price on shares of LifeMD in a research report on Wednesday, April 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $12.00.

Insider Transactions at LifeMD

In other LifeMD news, insider Eric Harold Yecies sold 15,000 shares of the stock in a transaction 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 transaction, the insider now owns 16,100 shares in the company, valued at $197,225. This trade represents a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stefan Galluppi sold 85,000 shares of the stock in a transaction 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 transaction, the insider now owns 80,449 shares of the company's stock, valued at $995,958.62. This trade represents a 51.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,995 shares of company stock valued at $2,102,422 over the last three months. Corporate insiders own 18.40% of the company's stock.

Hedge Funds Weigh In On LifeMD

Several institutional investors have recently bought and sold shares of the business. Uniplan Investment Counsel Inc. lifted its position in LifeMD by 0.8% during the first quarter. Uniplan Investment Counsel Inc. now owns 388,288 shares of the company's stock valued at $2,112,000 after purchasing an additional 3,035 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in LifeMD by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company's stock valued at $270,000 after purchasing an additional 2,235 shares during the last quarter. Ieq Capital LLC bought a new position in LifeMD during the first quarter valued at $114,000. Virtus Advisers LLC bought a new position in LifeMD during the first quarter valued at $213,000. Finally, Jump Financial LLC lifted its position in LifeMD by 69.9% during the first quarter. Jump Financial LLC now owns 168,881 shares of the company's stock valued at $919,000 after purchasing an additional 69,502 shares during the last quarter. Institutional investors own 35.52% of the company's stock.

LifeMD Stock Performance

The company's fifty day moving average price is $9.18 and its 200-day moving average price is $6.83. The stock has a market cap of $686.57 million, a P/E ratio of -44.18 and a beta of 2.42.

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

LifeMD Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.