LifeMD (NASDAQ:LFMD) Coverage Initiated at B. Riley Financial

Equities research analysts at B. Riley Financial assumed coverage on shares of LifeMD (NASDAQ:LFMD) in a research report issued on Friday. The firm set a “buy” rating and a $8.00 price target on the stock. B. Riley Financial’s target price would suggest a potential upside of 162.73% from the stock’s previous close.

Several other research firms also recently weighed in on LFMD. Zacks Research upgraded LifeMD from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. KeyCorp set a $5.00 price objective on shares of LifeMD and gave the company an “overweight” rating in a research note on Friday, August 7th. UBS Group reiterated a “buy” rating on shares of LifeMD in a report on Wednesday, May 27th. Wall Street Zen cut shares of LifeMD from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, Lake Street Capital set a $5.00 target price on shares of LifeMD in a report on Thursday, August 6th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, LifeMD currently has an average rating of “Moderate Buy” and a consensus price target of $7.57.

LifeMD Stock Performance

NASDAQ LFMD traded up $0.01 during mid-day trading on Friday, reaching $3.04. 418,705 shares of the stock were exchanged, compared to its average volume of 1,044,942. The stock has a market capitalization of $146.77 million, a PE ratio of -60.93 and a beta of 2.04. LifeMD has a 1-year low of $2.56 and a 1-year high of $7.32. The business’s fifty day simple moving average is $3.70 and its 200 day simple moving average is $3.98.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The business had revenue of $47.28 million during the quarter, compared to analyst estimates of $49.16 million. LifeMD had a net margin of 0.10% and a negative return on equity of 168.23%. On average, analysts anticipate that LifeMD will post -0.46 EPS for the current year.

Institutional Investors Weigh In On LifeMD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in shares of LifeMD in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of LifeMD during the 4th quarter worth about $36,000. R Squared Ltd acquired a new stake in LifeMD during the 1st quarter worth approximately $41,000. Jain Global LLC purchased a new position in LifeMD in the fourth quarter valued at approximately $45,000. Finally, Quarry LP purchased a new position in LifeMD in the third quarter valued at approximately $52,000. 35.52% of the stock is currently owned by institutional investors and hedge funds.

About LifeMD

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.