Canaccord Genuity Group Boosts LifeStance Health Group (NASDAQ:LFST) Price Target to $13.00

LifeStance Health Group (NASDAQ:LFST) had its price target increased by stock analysts at Canaccord Genuity Group from $11.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 18.07% from the stock’s current price.

LFST has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on LifeStance Health Group in a research report on Friday, June 5th. They issued a “neutral” rating and a $9.00 price objective for the company. Barclays raised their price target on LifeStance Health Group from $9.00 to $13.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Zacks Research cut LifeStance Health Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on shares of LifeStance Health Group from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of LifeStance Health Group in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, LifeStance Health Group has an average rating of “Moderate Buy” and a consensus price target of $11.12.

LifeStance Health Group Stock Performance

Shares of NASDAQ LFST opened at $11.01 on Tuesday. The company has a market cap of $4.27 billion, a PE ratio of 183.50 and a beta of 1.12. LifeStance Health Group has a 12 month low of $3.74 and a 12 month high of $11.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.48 and a quick ratio of 1.48. The company has a 50-day simple moving average of $9.21 and a 200-day simple moving average of $7.77.

LifeStance Health Group (NASDAQ:LFST) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $403.48 million for the quarter, compared to the consensus estimate of $387.46 million. LifeStance Health Group had a net margin of 1.55% and a return on equity of 1.56%. The business’s revenue was up 21.2% compared to the same quarter last year. On average, equities analysts anticipate that LifeStance Health Group will post 0.12 earnings per share for the current year.

Insider Activity at LifeStance Health Group

In other news, Director Robert Bessler sold 894,337 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $10.13, for a total value of $9,059,633.81. Following the transaction, the director directly owned 539,763 shares in the company, valued at $5,467,799.19. This trade represents a 62.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Darren M. Black sold 5,899,661 shares of LifeStance Health Group stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $8.02, for a total value of $47,315,281.22. Following the completion of the transaction, the director directly owned 23,310,115 shares in the company, valued at $186,947,122.30. This represents a 20.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 7,749,541 shares of company stock worth $64,017,837. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC grew its stake in LifeStance Health Group by 19,952.6% during the fourth quarter. Larson Financial Group LLC now owns 3,810 shares of the company’s stock worth $27,000 after buying an additional 3,791 shares during the period. KBC Group NV purchased a new position in shares of LifeStance Health Group in the 1st quarter valued at $29,000. EverSource Wealth Advisors LLC raised its stake in shares of LifeStance Health Group by 359.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,909 shares of the company’s stock valued at $44,000 after acquiring an additional 5,404 shares during the period. Bayesian Capital Management LP acquired a new position in shares of LifeStance Health Group during the 2nd quarter valued at $52,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of LifeStance Health Group by 615.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,285 shares of the company’s stock valued at $59,000 after acquiring an additional 7,987 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

About LifeStance Health Group

LifeStance Health Group (NASDAQ:LFST) is a leading provider of outpatient mental health services in the United States. Headquartered in New York City, the company operates a growing network of clinics that deliver integrated, patient-centered psychological and psychiatric care. LifeStance’s mission is to expand access to high-quality mental health treatment by combining evidence-based therapy modalities with personalized treatment plans.

The company’s service offerings include individual, family, and group psychotherapy, psychiatric medication management, psychological assessment, and telehealth services.