LifeMD, Inc. (NASDAQ:LFMD) Given Average Recommendation of “Buy” by Brokerages

LifeMD, Inc. (NASDAQ:LFMD) has been given a consensus recommendation of “Buy” by the five research firms that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $12.40.

LFMD has been the subject of several recent analyst reports. B. Riley initiated coverage on LifeMD in a report on Friday, August 23rd. They issued a “buy” rating and a $11.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research report on Friday, September 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of LifeMD in a research report on Monday, November 11th.

LifeMD Stock Performance

LFMD opened at $6.59 on Wednesday. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.78 and a current ratio of 0.83. The business’s 50-day simple moving average is $5.16 and its 200 day simple moving average is $6.02. The firm has a market capitalization of $285.41 million, a PE ratio of -10.30 and a beta of 1.23. LifeMD has a 52-week low of $3.99 and a 52-week high of $12.88.

Institutional Investors Weigh In On LifeMD

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in shares of LifeMD by 251.0% in the first quarter. Russell Investments Group Ltd. now owns 64,927 shares of the company’s stock valued at $667,000 after purchasing an additional 46,428 shares during the period. Vanguard Group Inc. lifted its position in LifeMD by 12.5% during the first quarter. Vanguard Group Inc. now owns 1,155,193 shares of the company’s stock worth $11,875,000 after acquiring an additional 128,701 shares during the last quarter. Ancora Advisors LLC boosted its holdings in shares of LifeMD by 97.8% during the first quarter. Ancora Advisors LLC now owns 137,760 shares of the company’s stock worth $1,416,000 after acquiring an additional 68,110 shares during the period. Virtu Financial LLC bought a new stake in shares of LifeMD during the first quarter worth approximately $249,000. Finally, Calamos Advisors LLC acquired a new position in shares of LifeMD in the second quarter valued at approximately $394,000. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Company Profile

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.