LifeMD (NASDAQ:LFMD) Given New $14.00 Price Target at HC Wainwright

LifeMD (NASDAQ:LFMD - Free Report) had its price target upped by HC Wainwright from $12.00 to $14.00 in a research report report published on Wednesday, MarketBeat Ratings reports. HC Wainwright currently has a buy rating on the stock.

Several other equities analysts have also weighed in on LFMD. KeyCorp reduced their price objective on shares of LifeMD from $10.00 to $7.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. Lake Street Capital started coverage on shares of LifeMD in a report on Tuesday, December 10th. They set a "buy" rating and a $12.00 price target on the stock. Finally, Mizuho assumed coverage on LifeMD in a report on Wednesday, December 4th. They set a "neutral" rating and a $7.00 price objective on the stock. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $11.43.

LifeMD Price Performance

Shares of LFMD stock traded up $0.28 during trading hours on Wednesday, reaching $5.94. The stock had a trading volume of 1,559,201 shares, compared to its average volume of 801,793. The firm has a 50-day simple moving average of $5.68 and a 200-day simple moving average of $5.39. The firm has a market capitalization of $264.83 million, a PE ratio of -9.28 and a beta of 1.50. LifeMD has a twelve month low of $3.99 and a twelve month high of $12.88.

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LifeMD (NASDAQ:LFMD - Get Free Report) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. The business had revenue of $64.26 million for the quarter, compared to the consensus estimate of $57.43 million. On average, equities analysts anticipate that LifeMD will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Justin Schreiber sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $5.19, for a total transaction of $129,750.00. Following the transaction, the chief executive officer now directly owns 2,703,715 shares in the company, valued at approximately $14,032,280.85. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.97% of the company's stock.

Institutional Investors Weigh In On LifeMD

Institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC bought a new stake in shares of LifeMD during the 4th quarter valued at $51,000. Oxford Asset Management LLP bought a new position in LifeMD during the fourth quarter worth about $52,000. Balyasny Asset Management L.P. bought a new stake in shares of LifeMD in the 4th quarter valued at about $52,000. Intech Investment Management LLC bought a new position in LifeMD during the 3rd quarter worth approximately $54,000. Finally, AXQ Capital LP acquired a new position in LifeMD during the fourth quarter valued at approximately $57,000. 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.