LifeStance Health Group (NASDAQ:LFST) Price Target Raised to $13.00

LifeStance Health Group (NASDAQ:LFST) had its price target lifted by Barclays from $9.00 to $13.00 in a research report released on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of LifeStance Health Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. BTIG Research lifted their target price on LifeStance Health Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group began coverage on LifeStance Health Group in a research note on Friday, June 5th. They set a “neutral” rating and a $9.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

LifeStance Health Group Trading Up 2.9%

LFST stock opened at $11.29 on Tuesday. The business’s 50 day moving average is $8.93 and its 200-day moving average is $7.65. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.18. LifeStance Health Group has a 1-year low of $3.74 and a 1-year high of $11.62. The firm has a market cap of $4.38 billion, a P/E ratio of 188.17 and a beta of 1.12.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The business had revenue of $403.48 million during the quarter, compared to analysts’ expectations of $387.46 million. The company’s revenue for the quarter was up 21.2% compared to the same quarter last year. Equities analysts anticipate that LifeStance Health Group will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Bessler sold 894,337 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $10.13, for a total value of $9,059,633.81. Following the completion of the transaction, the director owned 539,763 shares of the company’s stock, valued at approximately $5,467,799.19. This represents a 62.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Darren M. Black sold 5,899,661 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total transaction of $47,315,281.22. Following the completion of the sale, the director owned 23,310,115 shares in the company, valued at $186,947,122.30. This represents a 20.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 7,762,394 shares of company stock valued at $64,107,859. 3.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On LifeStance Health Group

A number of hedge funds have recently modified their holdings of LFST. Larson Financial Group LLC grew its position in shares of LifeStance Health Group by 19,952.6% in the 4th quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock valued at $27,000 after buying an additional 3,791 shares during the last quarter. KBC Group NV bought a new stake in LifeStance Health Group in the first quarter valued at $29,000. EverSource Wealth Advisors LLC increased its position in LifeStance Health Group by 359.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after buying an additional 5,404 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of LifeStance Health Group during the second quarter valued at approximately $52,000. Finally, PNC Financial Services Group Inc. raised its holdings in LifeStance Health Group by 615.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock worth $59,000 after buying an additional 7,987 shares during the last quarter. Institutional investors and hedge funds own 85.50% of the company’s stock.

LifeStance Health Group Company Profile

LifeStance Health Group (NASDAQ:LFST) is a leading provider of outpatient mental health services in the United States. Headquartered in New York City, the company operates a growing network of clinics that deliver integrated, patient-centered psychological and psychiatric care. LifeStance’s mission is to expand access to high-quality mental health treatment by combining evidence-based therapy modalities with personalized treatment plans.

The company’s service offerings include individual, family, and group psychotherapy, psychiatric medication management, psychological assessment, and telehealth services.