Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on LifeMD (LFMD – Research Report) and keeping the price target at $14.00.
Yi Chen has given his Buy rating due to a combination of factors that highlight LifeMD’s strategic initiatives and market positioning. The integration of Wegovy into LifeMD’s virtual care platform is a significant move, providing affordable access to this weight management medication, which is expected to attract more subscribers and boost sales. This strategic partnership with Novo Nordisk allows LifeMD to offer Wegovy at a reduced cost, enhancing its competitive edge in the telehealth space.
Moreover, LifeMD’s comprehensive care platform, which includes pharmacy benefits and upcoming product launches, positions the company well for future growth. The planned introduction of new offerings in 2025, such as virtual behavioral health and women’s health services, further strengthens its market presence. Chen’s valuation analysis, based on comparative metrics, supports a price target of $14, reflecting confidence in LifeMD’s growth trajectory despite potential risks like competition and patient acquisition challenges.
In another report released on April 28, Lake Street also maintained a Buy rating on the stock with a $12.00 price target.