HC Wainwright Reiterates Buy Rating for LifeMD (NASDAQ:LFMD)

HC Wainwright reissued their buy rating on shares of LifeMD (NASDAQ:LFMD - Free Report) in a research note published on Monday,Benzinga reports. The brokerage currently has a $12.00 target price on the stock.

Several other equities analysts also recently weighed in on the stock. B. Riley initiated coverage on shares of LifeMD in a report on Friday, August 23rd. They set a "buy" rating and a $11.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $15.00 target price on shares of LifeMD in a report on Friday, September 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, LifeMD currently has an average rating of "Buy" and a consensus price target of $12.00.

LifeMD Stock Performance

LFMD traded up $1.25 during trading on Monday, hitting $7.10. The stock had a trading volume of 2,199,488 shares, compared to its average volume of 741,010. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.83 and a current ratio of 0.87. LifeMD has a twelve month low of $3.99 and a twelve month high of $12.88. The firm has a market capitalization of $305.79 million, a P/E ratio of -10.42 and a beta of 1.23. The company's 50-day moving average price is $4.83 and its 200 day moving average price is $6.52.

Institutional Investors Weigh In On LifeMD

Several large investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in LifeMD in the third quarter worth approximately $54,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of LifeMD by 6.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 765,916 shares of the company's stock valued at $4,013,000 after buying an additional 48,201 shares during the last quarter. Royce & Associates LP raised its position in shares of LifeMD by 14.6% in the third quarter. Royce & Associates LP now owns 901,041 shares of the company's stock valued at $4,721,000 after purchasing an additional 114,710 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of LifeMD by 852.6% during the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company's stock worth $637,000 after acquiring an additional 108,822 shares in the last quarter. Finally, Evernest Financial Advisors LLC purchased a new position in LifeMD during the 3rd quarter valued at about $89,000. Institutional investors and hedge funds own 35.52% of the company's stock.

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.