BTIG Research Issues Pessimistic Forecast for LifeMD (NASDAQ:LFMD) Stock Price

LifeMD (NASDAQ:LFMD) had its target price reduced by research analysts at BTIG Research from $10.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 144.57% from the company’s previous close.

Several other analysts have also recently commented on LFMD. Weiss Ratings restated a “sell (d)” rating on shares of LifeMD in a report on Tuesday. Zacks Research downgraded shares of LifeMD from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. UBS Group reissued a “buy” rating on shares of LifeMD in a research note on Wednesday, May 27th. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of LifeMD in a report on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of LifeMD from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

LifeMD Trading Down 5.6%

Shares of LifeMD stock opened at $3.68 on Thursday. LifeMD has a 1 year low of $2.56 and a 1 year high of $7.95. The company has a market cap of $177.98 million, a P/E ratio of 73.61 and a beta of 2.02. The stock has a 50-day moving average price of $4.43 and a 200 day moving average price of $3.98.

LifeMD (NASDAQ:LFMD) last released its earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $47.28 million for the quarter, compared to analysts’ expectations of $49.16 million. LifeMD had a net margin of 2.37% and a negative return on equity of 150.88%. On average, equities analysts forecast that LifeMD will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LifeMD

Large investors have recently made changes to their positions in the company. Whetstone Capital Advisors LLC lifted its stake in LifeMD by 89.6% in the fourth quarter. Whetstone Capital Advisors LLC now owns 703,053 shares of the company’s stock valued at $2,397,000 after acquiring an additional 332,269 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in LifeMD in the fourth quarter worth approximately $2,344,000. MYDA Advisors LLC acquired a new position in shares of LifeMD during the 4th quarter worth $512,000. Sei Investments Co. bought a new position in shares of LifeMD during the 1st quarter valued at $148,000. Finally, State of Wyoming raised its holdings in shares of LifeMD by 146.9% during the 1st quarter. State of Wyoming now owns 142,499 shares of the company’s stock valued at $514,000 after purchasing an additional 84,785 shares in the last quarter. Institutional investors own 35.52% of the company’s stock.

LifeMD Company Profile

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.