Brokerages Expect Evofem Biosciences Inc (EVFM) Will Announce Earnings of -$0.45 Per Share

Wall Street brokerages forecast that Evofem Biosciences Inc (NASDAQ:EVFM) will post earnings per share of ($0.45) for the current quarter, according to Zacks. Zero analysts have made estimates for Evofem Biosciences’ earnings. The highest EPS estimate is ($0.39) and the lowest is ($0.53). Evofem Biosciences posted earnings per share of ($4.62) in the same quarter last year, which suggests a positive year-over-year growth rate of 90.3%. The company is scheduled to announce its next quarterly earnings results on Monday, May 13th.

On average, analysts expect that Evofem Biosciences will report full-year earnings of ($1.32) per share for the current fiscal year, with EPS estimates ranging from ($1.72) to ($0.20). For the next financial year, analysts expect that the firm will report earnings of ($1.17) per share, with EPS estimates ranging from ($1.39) to ($0.87). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Evofem Biosciences.

Evofem Biosciences (NASDAQ:EVFM) last issued its quarterly earnings results on Friday, March 1st. The biotechnology company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.15).

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald reissued a “buy” rating and issued a $9.00 target price on shares of Evofem Biosciences in a research note on Monday, March 4th. Zacks Investment Research cut shares of Evofem Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. ValuEngine cut shares of Evofem Biosciences from a “buy” rating to a “hold” rating in a research note on Friday, December 21st. Oppenheimer raised their target price on shares of Evofem Biosciences from $9.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Evofem Biosciences in a research note on Monday, January 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Evofem Biosciences currently has an average rating of “Buy” and an average price target of $11.10.

In other news, major shareholder Ltd. Invesco bought 425,531 shares of the company’s stock in a transaction dated Friday, February 8th. The stock was bought at an average price of $2.64 per share, with a total value of $1,123,401.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.40% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of EVFM. Vanguard Group Inc acquired a new stake in shares of Evofem Biosciences during the third quarter worth $879,000. Vanguard Group Inc. bought a new position in shares of Evofem Biosciences in the third quarter worth $879,000. Finally, Geode Capital Management LLC increased its position in shares of Evofem Biosciences by 115.2% in the fourth quarter. Geode Capital Management LLC now owns 73,650 shares of the biotechnology company’s stock worth $308,000 after purchasing an additional 39,425 shares during the period. 73.09% of the stock is owned by institutional investors.

Shares of NASDAQ:EVFM traded down $0.08 during midday trading on Wednesday, hitting $4.02. The stock had a trading volume of 12,962 shares, compared to its average volume of 31,885. Evofem Biosciences has a 12 month low of $1.79 and a 12 month high of $8.35. The stock has a market capitalization of $113.06 million, a PE ratio of -0.70 and a beta of 1.58.

Evofem Biosciences Company Profile

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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