LifeMD (NASDAQ:LFMD) Now Covered by Analysts at Lake Street Capital

Analysts at Lake Street Capital began coverage on shares of LifeMD (NASDAQ:LFMD) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Lake Street Capital’s price target points to a potential upside of 103.39% from the stock’s current price.

Several other analysts also recently issued reports on LFMD. Mizuho initiated coverage on shares of LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of LifeMD in a report on Monday, November 11th. B. Riley initiated coverage on shares of LifeMD in a report on Friday, August 23rd. They set a “buy” rating and a $11.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price target on shares of LifeMD in a report on Friday, September 20th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.57.

LifeMD Price Performance

Shares of NASDAQ:LFMD opened at $5.90 on Tuesday. The company’s fifty day moving average is $5.24 and its two-hundred day moving average is $5.93. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 10.83. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88. The company has a market cap of $255.54 million, a P/E ratio of -9.22 and a beta of 1.37.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 25,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.52, for a total value of $163,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,728,715 shares in the company, valued at approximately $17,791,221.80. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 15.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LifeMD

A number of large investors have recently bought and sold shares of LFMD. State Street Corp boosted its holdings in LifeMD by 20.0% during the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock valued at $6,055,000 after acquiring an additional 192,861 shares during the period. Vanguard Group Inc. boosted its holdings in LifeMD by 12.5% during the first quarter. Vanguard Group Inc. now owns 1,155,193 shares of the company’s stock valued at $11,875,000 after acquiring an additional 128,701 shares during the period. Royce & Associates LP boosted its holdings in LifeMD by 14.6% during the third quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock valued at $4,721,000 after acquiring an additional 114,710 shares during the period. Los Angeles Capital Management LLC boosted its holdings in LifeMD by 852.6% during the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock valued at $637,000 after acquiring an additional 108,822 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in LifeMD by 63.6% during the second quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company’s stock valued at $1,609,000 after acquiring an additional 91,183 shares during the period. 35.52% of the stock is currently owned by institutional investors.

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.