HC Wainwright Forecasts Strong Price Appreciation for LifeMD (NASDAQ:LFMD) Stock

LifeMD (NASDAQ:LFMD) had its price objective raised by analysts at HC Wainwright from $9.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 154.45% from the company’s previous close.

Several other brokerages also recently commented on LFMD. Weiss Ratings restated a “sell (e+)” rating on shares of LifeMD in a research note on Monday, December 29th. Loop Capital set a $8.00 price target on LifeMD in a research report on Monday, November 24th. KeyCorp cut their price objective on shares of LifeMD from $12.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, November 19th. 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 research note on Tuesday, November 18th. Finally, Mizuho decreased their target price on shares of LifeMD from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.86.

LifeMD Trading Down 3.2%

LifeMD stock opened at $3.93 on Wednesday. LifeMD has a 1-year low of $2.56 and a 1-year high of $15.84. The firm has a market capitalization of $189.19 million, a price-to-earnings ratio of 15.12 and a beta of 1.92. The firm has a 50 day simple moving average of $3.32 and a 200 day simple moving average of $4.56.

LifeMD (NASDAQ:LFMD) last posted its earnings results on Monday, March 9th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The company had revenue of $46.87 million for the quarter, compared to analysts’ expectations of $48.57 million. LifeMD had a negative return on equity of 83.93% and a net margin of 6.58%. On average, equities research analysts forecast that LifeMD will post -0.56 EPS for the current year.

Hedge Funds Weigh In On LifeMD

Institutional investors have recently made changes to their positions in the stock. Aristides Capital LLC purchased a new stake in shares of LifeMD during the 4th quarter valued at $203,000. Virtu Financial LLC purchased a new position in LifeMD in the fourth quarter worth $155,000. Invesco Ltd. increased its stake in LifeMD by 18.8% in the fourth quarter. Invesco Ltd. now owns 24,464 shares of the company’s stock valued at $83,000 after acquiring an additional 3,870 shares during the last quarter. XTX Topco Ltd increased its stake in LifeMD by 9.0% in the fourth quarter. XTX Topco Ltd now owns 82,360 shares of the company’s stock valued at $281,000 after acquiring an additional 6,814 shares during the last quarter. Finally, Millennium Management LLC raised its position in LifeMD by 220.8% during the fourth quarter. Millennium Management LLC now owns 216,836 shares of the company’s stock valued at $739,000 after purchasing an additional 149,234 shares in the last quarter. Institutional investors own 35.52% of the company’s stock.

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.