BTIG Research Reiterates Buy Rating for LifeMD (NASDAQ:LFMD)

LifeMD (NASDAQ:LFMD)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock. BTIG Research’s price target suggests a potential upside of 220.51% from the stock’s current price.

Several other brokerages have also recently issued reports on LFMD. HC Wainwright cut their target price on shares of LifeMD from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. KeyCorp dropped their target price on shares of LifeMD from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Wall Street Zen downgraded LifeMD from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. B. Riley Financial reduced their price objective on shares of LifeMD from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, Mizuho dropped their price target on LifeMD from $8.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

LifeMD Price Performance

NASDAQ:LFMD opened at $3.12 on Tuesday. The company has a market capitalization of $150.20 million, a P/E ratio of -18.35 and a beta of 1.92. LifeMD has a 1 year low of $2.56 and a 1 year high of $15.84. The business has a fifty day simple moving average of $3.29 and a two-hundred day simple moving average of $4.58.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LFMD. Tower Research Capital LLC TRC raised its stake in LifeMD by 110.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company’s stock worth $64,000 after acquiring an additional 2,452 shares in the last quarter. Quarry LP acquired a new stake in shares of LifeMD during the 3rd quarter worth about $52,000. King Wealth Management Group purchased a new position in shares of LifeMD during the 3rd quarter worth about $68,000. Legal & General Group Plc lifted its position in LifeMD by 187.4% during the second quarter. Legal & General Group Plc now owns 10,144 shares of the company’s stock valued at $138,000 after buying an additional 6,614 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of LifeMD in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 35.52% of the company’s stock.

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.