Evofem Biosciences (EVFM) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Evofem Biosciences (NASDAQ:EVFM) in a report published on Monday morning, The Fly reports. They currently have a $12.50 target price on the biotechnology company’s stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an overweight rating on shares of Evofem Biosciences in a research report on Friday, November 23rd. ValuEngine lowered Evofem Biosciences from a buy rating to a hold rating in a report on Friday, December 21st. Finally, Oppenheimer set a $9.00 target price on Evofem Biosciences and gave the stock a buy rating in a report on Friday, November 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Evofem Biosciences has an average rating of Buy and an average price target of $10.70.

NASDAQ:EVFM opened at $3.86 on Monday. Evofem Biosciences has a twelve month low of $1.79 and a twelve month high of $12.56.

Evofem Biosciences (NASDAQ:EVFM) last posted its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.34). On average, sell-side analysts predict that Evofem Biosciences will post -5.77 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its holdings in shares of Evofem Biosciences by 6,497.4% during the 2nd quarter. Millennium Management LLC now owns 733,765 shares of the biotechnology company’s stock worth $1,989,000 after acquiring an additional 722,643 shares during the last quarter. Heartland Advisors Inc. acquired a new position in shares of Evofem Biosciences during the 3rd quarter worth approximately $1,319,000. Vanguard Group Inc. acquired a new position in shares of Evofem Biosciences during the 3rd quarter worth approximately $879,000. Finally, Vanguard Group Inc acquired a new position in shares of Evofem Biosciences during the 3rd quarter worth approximately $879,000. 77.81% of the stock is currently owned by institutional investors and hedge funds.

About Evofem Biosciences

Evofem Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes women's sexual and reproductive health products. Its lead product candidate is Amphora that is in Phase 3 trial for contraception; and in Phase 2b/3 clinical trial for prevention of chlamydia and gonorrhea in women.

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Analyst Recommendations for Evofem Biosciences (NASDAQ:EVFM)

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