Analysts Set LifeMD, Inc. (NASDAQ:LFMD) Target Price at $12.00

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been assigned an average recommendation of “Buy” from the six analysts that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $12.00.

Several research analysts have weighed in on LFMD shares. KeyCorp lowered their price target on shares of LifeMD from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. B. Riley began coverage on LifeMD in a research note on Friday, August 23rd. They issued a “buy” rating and a $11.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 price objective on shares of LifeMD in a research report on Tuesday, August 20th.

LifeMD Stock Performance

Shares of NASDAQ LFMD opened at $5.20 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 10.83. The company has a market capitalization of $217.14 million, a P/E ratio of -7.03 and a beta of 1.19. LifeMD has a 12 month low of $4.05 and a 12 month high of $12.88. The stock has a 50 day moving average of $5.75 and a 200-day moving average of $7.87.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The business had revenue of $50.66 million for the quarter, compared to analysts’ expectations of $48.47 million. During the same period last year, the business posted ($0.23) earnings per share. As a group, equities research analysts predict that LifeMD will post -0.49 EPS for the current year.

Institutional Investors Weigh In On LifeMD

Several institutional investors have recently made changes to their positions in LFMD. ClariVest Asset Management LLC raised its holdings in LifeMD by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 91,967 shares of the company’s stock valued at $631,000 after acquiring an additional 2,600 shares in the last quarter. Quest Partners LLC acquired a new position in LifeMD in the second quarter valued at about $31,000. Deerfield Management Company L.P. Series C lifted its position in LifeMD by 25.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 40,289 shares of the company’s stock worth $276,000 after purchasing an additional 8,204 shares during the period. EntryPoint Capital LLC acquired a new stake in LifeMD during the first quarter worth about $89,000. Finally, Los Angeles Capital Management LLC bought a new position in LifeMD in the 2nd quarter valued at about $88,000. 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.