B. Riley Upgrades LifeMD (NASDAQ:LFMD) to “Strong-Buy”

LifeMD (NASDAQ:LFMD) was upgraded by equities research analysts at B. Riley to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on LFMD. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a research report on Tuesday. Lake Street Capital began coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 target price on the stock. KeyCorp reduced their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. HC Wainwright upped their target price on shares of LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Mizuho began coverage on shares of LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $11.43.

LifeMD Stock Up 3.6 %

NASDAQ:LFMD opened at $5.77 on Tuesday. The firm has a market cap of $249.91 million, a PE ratio of -9.02 and a beta of 1.50. LifeMD has a 12 month low of $3.99 and a 12 month high of $12.88. The company’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $5.38.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. On average, research analysts expect that LifeMD will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,653,715 shares of the company’s stock, valued at $20,035,548.25. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 15.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LifeMD

A number of institutional investors and hedge funds have recently modified their holdings of LFMD. Marshall Wace LLP raised its stake in shares of LifeMD by 522.9% during the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company’s stock worth $1,839,000 after buying an additional 311,841 shares during the last quarter. Royce & Associates LP increased its stake in LifeMD by 23.9% in the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock valued at $5,524,000 after purchasing an additional 214,950 shares in the last quarter. State Street Corp increased its stake in LifeMD by 20.0% in the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock valued at $6,055,000 after purchasing an additional 192,861 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in LifeMD by 21.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock valued at $4,610,000 after purchasing an additional 165,378 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in LifeMD by 45.2% in the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company’s stock valued at $2,524,000 after purchasing an additional 158,796 shares in the last quarter. 35.52% of the stock is 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.