Brokerages Set LifeMD, Inc. (NASDAQ:LFMD) Target Price at $11.14

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.14.

Several equities analysts have recently commented on the company. KeyCorp cut their price target on LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of LifeMD in a research report on Monday, November 11th. Mizuho initiated coverage on LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price objective on the stock. Finally, Lake Street Capital initiated coverage on LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective on the stock.

Insiders Place Their Bets

In related news, CEO Justin Schreiber sold 25,000 shares of LifeMD stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total transaction of $129,750.00. Following the completion of the sale, the chief executive officer now owns 2,703,715 shares of the company’s stock, valued at $14,032,280.85. The trade was a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 15.97% of the company’s stock.

Institutional Investors Weigh In On LifeMD

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp lifted its holdings in shares of LifeMD by 20.0% during the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after purchasing an additional 192,861 shares during the period. Royce & Associates LP lifted its holdings in shares of LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock worth $5,524,000 after purchasing an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock worth $4,610,000 after purchasing an additional 165,378 shares during the period. Geode Capital Management LLC lifted its holdings in shares of LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after purchasing an additional 2,984 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of LifeMD by 45.2% during the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company’s stock worth $2,524,000 after purchasing an additional 158,796 shares during the period. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Trading Up 5.4 %

Shares of LifeMD stock opened at $7.66 on Monday. The firm has a market cap of $331.77 million, a P/E ratio of -11.97 and a beta of 1.50. LifeMD has a 12 month low of $3.99 and a 12 month high of $12.88. The stock’s fifty day moving average price is $5.53 and its 200-day moving average price is $5.35.

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.