LifeMD, Inc. (NASDAQ:LFMD) Stock Has Consensus Target Price of $7.57 According to Brokerages

Shares of LifeMD, Inc. (NASDAQ:LFMD) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $7.57.

Several research firms have recently commented on LFMD. HC Wainwright restated a “buy” rating and set a $9.00 price objective on shares of LifeMD in a report on Thursday, September 17th. Zacks Research upgraded shares of LifeMD from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. B. Riley Financial assumed coverage on shares of LifeMD in a research report on Friday, September 11th. They set a “buy” rating and a $8.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LifeMD in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of LifeMD from a “hold” rating to a “sell” rating in a report on Saturday, July 18th.

Hedge Funds Weigh In On LifeMD

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in LifeMD by 8.0% in the 2nd quarter. BlackRock Inc. now owns 3,034,535 shares of the company’s stock worth $12,533,000 after acquiring an additional 225,510 shares during the period. State Street Corp grew its holdings in shares of LifeMD by 22.6% during the 2nd quarter. State Street Corp now owns 1,318,784 shares of the company’s stock valued at $5,447,000 after acquiring an additional 243,376 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of LifeMD during the 2nd quarter worth about $1,338,000. Russell Investments Group Ltd. increased its stake in shares of LifeMD by 5,801.2% in the second quarter. Russell Investments Group Ltd. now owns 314,770 shares of the company’s stock worth $1,300,000 after purchasing an additional 309,436 shares during the period. Finally, Bank of America Corp DE bought a new position in LifeMD during the second quarter valued at about $1,078,000. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

LifeMD Price Performance

Shares of LFMD opened at $2.29 on Wednesday. LifeMD has a 12-month low of $2.06 and a 12-month high of $6.03. The firm’s 50 day moving average is $2.81 and its 200-day moving average is $3.65. The stock has a market capitalization of $110.38 million, a P/E ratio of -45.79 and a beta of 2.19.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). LifeMD had a negative return on equity of 168.23% and a net margin of 0.10%. The business had revenue of $47.28 million for the quarter, compared to the consensus estimate of $49.16 million. As a group, equities research analysts forecast that LifeMD will post -0.48 EPS for the current fiscal year.

LifeMD Company Profile

LifeMD, Inc is a direct-to-consumer telehealth company that provides virtual medical care, prescription treatments and related health services through its digital platform. The company connects patients with licensed health care providers for online consultations, ongoing care and, when clinically appropriate, prescription medications.

Its services include virtual primary care and programs focused on areas such as weight management, men’s health, women’s health, dermatology and chronic-care support.