Brokerages Set LifeMD, Inc. (NASDAQ:LFMD) Target Price at $9.25

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.25.

LFMD has been the subject of several recent analyst reports. Lake Street Capital decreased their price target on LifeMD from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. B. Riley Financial reduced their price objective on shares of LifeMD from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Wall Street Zen cut shares of LifeMD from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. KeyCorp dropped their price target on shares of LifeMD from $12.00 to $8.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Finally, BTIG Research reduced their price target on shares of LifeMD from $18.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th.

Insiders Place Their Bets

In other LifeMD news, CMO Jessica Friedeman sold 15,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $3.61, for a total transaction of $54,150.00. Following the completion of the transaction, the chief marketing officer directly owned 205,000 shares of the company’s stock, valued at approximately $740,050. This trade represents a 6.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 18.40% of the stock is owned by company insiders.

Institutional Trading of LifeMD

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new stake in shares of LifeMD in the second quarter worth approximately $3,828,000. Y Intercept Hong Kong Ltd acquired a new position in LifeMD in the 2nd quarter valued at approximately $818,000. Wealthspire Advisors LLC purchased a new stake in LifeMD in the 2nd quarter worth approximately $840,000. Jump Financial LLC boosted its stake in shares of LifeMD by 205.0% during the 2nd quarter. Jump Financial LLC now owns 515,052 shares of the company’s stock valued at $7,015,000 after buying an additional 346,171 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of LifeMD during the 2nd quarter valued at $365,000. 35.52% of the stock is owned by institutional investors and hedge funds.

LifeMD Price Performance

Shares of LFMD stock opened at $2.82 on Friday. LifeMD has a 12-month low of $2.71 and a 12-month high of $15.84. The firm has a market capitalization of $135.75 million, a price-to-earnings ratio of -16.59 and a beta of 1.90. The business has a 50 day simple moving average of $3.42 and a 200 day simple moving average of $4.87.

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.