LifeMD (NASDAQ:LFMD) Given “Buy” Rating at HC Wainwright

LifeMD (NASDAQ:LFMD)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $9.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 171.08% from the stock’s current price.

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

LifeMD Price Performance

Shares of NASDAQ LFMD traded up $0.11 during trading on Thursday, hitting $3.32. 160,481 shares of the company were exchanged, compared to its average volume of 1,049,038. LifeMD has a 1 year low of $2.56 and a 1 year high of $7.32. The company has a market cap of $160.02 million, a price-to-earnings ratio of -66.49 and a beta of 2.04. The firm’s fifty day moving average price is $3.58 and its 200 day moving average price is $4.00.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company 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, research analysts forecast that LifeMD will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LFMD. Bank of America Corp DE grew its position in shares of LifeMD by 10.1% during the first quarter. Bank of America Corp DE now owns 48,703 shares of the company’s stock worth $176,000 after acquiring an additional 4,465 shares during the last quarter. Bank of New York Mellon Corp grew its position in LifeMD by 2.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 246,586 shares of the company’s stock worth $1,018,000 after purchasing an additional 5,651 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of LifeMD during the second quarter valued at approximately $25,000. R Squared Ltd acquired a new position in shares of LifeMD during the first quarter worth approximately $41,000. Finally, Corient Private Wealth LP acquired a new position in shares of LifeMD during the second quarter worth approximately $63,000. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

LifeMD Company Profile

LifeMD, Inc (NASDAQ: LFMD) is a U.S.-based telehealth company that provides virtual healthcare services through its digital platform. The company connects patients with licensed healthcare professionals through online consultations, enabling access to medical care, prescriptions, ongoing treatment and care-management services without requiring an in-person visit.

LifeMD offers services across several areas, including virtual primary care, men’s and women’s health, dermatology, mental health and weight management.