B. Riley Financial Issues Pessimistic Forecast for LifeMD (NASDAQ:LFMD) Stock Price

LifeMD (NASDAQ:LFMD) had its target price dropped by analysts at B. Riley Financial from $10.00 to $8.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price objective would suggest a potential upside of 124.72% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Wall Street Zen downgraded shares of LifeMD from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. UBS Group reiterated 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 research note on Tuesday, May 26th. BTIG Research cut their price objective on shares of LifeMD from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of LifeMD in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, LifeMD has an average rating of “Moderate Buy” and an average target price of $7.57.

LifeMD Price Performance

NASDAQ:LFMD opened at $3.56 on Thursday. The company has a market capitalization of $171.59 million, a P/E ratio of -71.19 and a beta of 2.02. The business has a fifty day simple moving average of $4.39 and a two-hundred day simple moving average of $3.97. LifeMD has a 1 year low of $2.56 and a 1 year high of $7.32.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $47.28 million for the quarter, compared to analysts’ expectations of $49.16 million. LifeMD had a net margin of 0.10% and a negative return on equity of 150.35%. As a group, analysts anticipate that LifeMD will post -0.37 earnings per share for the current year.

Institutional Trading of LifeMD

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in LifeMD in the 4th quarter worth approximately $36,000. R Squared Ltd purchased a new position in shares of LifeMD during the 1st quarter valued at $41,000. Jain Global LLC bought a new position in shares of LifeMD in the fourth quarter worth $45,000. Quarry LP bought a new position in shares of LifeMD in the third quarter worth $52,000. Finally, Tower Research Capital LLC TRC raised its position in shares of LifeMD by 110.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company’s stock worth $64,000 after buying an additional 2,452 shares in the last quarter. Institutional investors own 35.52% of the company’s stock.

About LifeMD

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.