BTIG Reiterates Buy Rating on LifeMD Inc (LFMD)

BTIG analyst Kyle Bauser reiterated a Buy rating and $12.00 price target on LifeMD Inc (NASDAQ: LFMD).

The analyst comments ": Various news reports are highlighting that a Federal judge has granted the FDA's request for a voluntary remand and stay in the ongoing legal case challenging the agency's decision to remove tirzepatide from the drug shortage list. See our previous note (Tirz off Shortage List 100424). In our view what this means is that compounding pharmacies can continue filling prescriptions for compounded tirzepatide under certain conditions until the FDA completes its review. According to various news reports, the FDA has been given time to conduct its review and will submit a "joint status report" by 11/21/24, updating the court on its progress. A hearing that had been scheduled for 10/15/24 has been canceled. This news comes following a lawsuit that the "Outsourcing Facilities Association" (OFA) filed stating that the FDA made a "reckless and arbitrary decision," via an unlawful process, to deprive patients of type 2 diabetes and obesity medications. We are positively surprised by the forceful and aggressive tone of the OFA language in the lawsuit, and it seems to us like the massive market demand for lower cost solutions for GLP-1s or compounded versions for them, is high. This demand has led to at least some temporary relief for compounding pharmacies, and will benefit both LifeMD and Hims (HIMS, Not Rated)."

For an analyst ratings summary and ratings history on LifeMD Inc click here. For more ratings news on LifeMD Inc click here.

Shares of LifeMD Inc closed at $4.38 yesterday.

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