LifeMD (NASDAQ:LFMD) Shares Gap Up After Analyst Upgrade

LifeMD, Inc. (NASDAQ:LFMD)’s share price gapped up prior to trading on Wednesday after BTIG Research raised their price target on the stock from $15.00 to $18.00. The stock had previously closed at $13.58, but opened at $14.01. BTIG Research currently has a buy rating on the stock. LifeMD shares last traded at $14.80, with a volume of 685,148 shares.

Several other equities research analysts have also issued reports on the stock. B. Riley raised shares of LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of LifeMD in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a research note on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $12.00.

Insider Activity

In other LifeMD news, insider Eric Harold Yecies sold 15,000 shares of the company’s stock in a transaction on Friday, June 13th. The shares were sold at an average price of $12.25, for a total value of $183,750.00. Following the sale, the insider now directly owns 16,100 shares of the company’s stock, valued at approximately $197,225. This represents a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stefan Galluppi sold 85,000 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $12.38, for a total transaction of $1,052,300.00. Following the completion of the transaction, the insider now owns 80,449 shares of the company’s stock, valued at approximately $995,958.62. This trade represents a 51.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 321,995 shares of company stock valued at $3,784,672 over the last ninety days. 18.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in LifeMD in the 1st quarter valued at about $35,000. CWM LLC raised its holdings in LifeMD by 17.5% in the 1st quarter. CWM LLC now owns 9,050 shares of the company’s stock valued at $49,000 after acquiring an additional 1,351 shares during the last quarter. ProShare Advisors LLC acquired a new stake in LifeMD in the 4th quarter valued at about $51,000. Oxford Asset Management LLP acquired a new stake in LifeMD in the 4th quarter valued at about $52,000. Finally, Balyasny Asset Management L.P. acquired a new stake in LifeMD in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Trading Up 10.9%

The company has a market cap of $684.48 million, a price-to-earnings ratio of -44.29 and a beta of 2.42. The stock’s fifty day simple moving average is $9.38 and its 200 day simple moving average is $6.89.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The firm had revenue of $65.70 million during the quarter, compared to analysts’ expectations of $62.47 million. On average, analysts predict that LifeMD, Inc. will post -0.56 EPS for the current year.

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.