Mizuho initiated coverage of LifeMD (LFMD) with a Neutral rating and $7 price target The firm notes that the company has succeeded due to the successful uptake of its virtual ‘GLP-1 Weight Management’ program, which features access to both branded and compounded GLP-1 drugs for obesity patients, with 80% of the total in compounded. However, investors are grappling with the durability risk of LifeMD’s subscription revenue related to GLP-1 compounding, as if the drugs are taken off the FDA drug shortage list, compounding would no longer be allowed.
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Read More on LFMD:
- ADA advises doctors, patients not to use compounded GLP-1s
- Hims & Hers jumps as status report says patients unable to obtain branded GLP-1s
- LifeMD price target raised to $12 from $11 at B. Riley
- LifeMD sees Q4 revenue $57M-$58M, consensus $57.34M
- LifeMD backs FY24 revenue view at least $205M, consensus $206M