LifeMD (NASDAQ:LFMD) Receives New Coverage from Analysts at B. Riley

B. Riley assumed coverage on shares of LifeMD (NASDAQ:LFMD) in a research report sent to investors on Friday morning, StockNewsAPI reports. The brokerage issued a buy rating and a $11.00 target price on the stock.

Several other brokerages have also weighed in on LFMD. Cantor Fitzgerald reissued an overweight rating and issued a $15.00 price objective on shares of LifeMD in a report on Tuesday. KeyCorp reduced their target price on LifeMD from $12.00 to $10.00 and set an overweight rating for the company in a report on Thursday, July 11th. Finally, HC Wainwright reaffirmed a buy rating and set a $12.00 target price on shares of LifeMD in a report on Friday, May 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, LifeMD currently has an average rating of Buy and an average target price of $12.00.

LifeMD Trading Up 7.7 %

Shares of LFMD opened at $5.45 on Friday. The business has a 50-day moving average of $6.45 and a 200 day moving average of $8.08. LifeMD has a fifty-two week low of $3.46 and a fifty-two week high of $12.88. The firm has a market cap of $227.58 million, a P/E ratio of -7.36 and a beta of 1.24. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.94 and a current ratio of 0.99.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.06). The company had revenue of $50.66 million during the quarter, compared to the consensus estimate of $48.47 million. During the same period in the prior year, the business posted ($0.23) earnings per share. As a group, research analysts forecast that LifeMD will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LFMD. ClariVest Asset Management LLC boosted its position in shares of LifeMD by 2.9% during 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 during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of LifeMD by 266.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the company’s stock valued at $38,000 after acquiring an additional 3,348 shares during the last quarter. Quest Partners LLC bought a new stake in shares of LifeMD during the 2nd quarter valued at about $31,000. Deerfield Management Company L.P. Series C boosted its position in shares of LifeMD by 25.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 40,289 shares of the company’s stock valued at $276,000 after acquiring an additional 8,204 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of LifeMD during the 1st quarter valued at about $89,000. Hedge funds and other institutional investors own 35.52% of the company’s stock.

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.