FY2023 EPS Estimates for Evofem Biosciences Inc Lifted by Oppenheimer (EVFM)

Evofem Biosciences Inc (NASDAQ:EVFM) – Research analysts at Oppenheimer upped their FY2023 earnings estimates for Evofem Biosciences in a report released on Friday, April 12th. Oppenheimer analyst L. Gershell now forecasts that the biotechnology company will earn $0.13 per share for the year, up from their prior estimate of $0.11. Oppenheimer has a “Outperform” rating and a $11.00 price target on the stock.

EVFM has been the topic of a number of other reports. Cantor Fitzgerald set a $9.00 price objective on Evofem Biosciences and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research downgraded Evofem Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, January 8th. HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Evofem Biosciences in a research note on Monday, January 7th. Finally, ValuEngine downgraded Evofem Biosciences from a “buy” rating to a “hold” rating in a research note on Friday, December 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $11.10.

Shares of Evofem Biosciences stock opened at $4.12 on Monday. The stock has a market cap of $111.23 million, a PE ratio of -0.72 and a beta of 1.58. Evofem Biosciences has a 52-week low of $1.79 and a 52-week high of $8.35.

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

In related news, major shareholder Ltd. Invesco acquired 425,531 shares of the business’s stock in a transaction that occurred on Friday, February 8th. The shares were acquired at an average cost of $2.64 per share, with a total value of $1,123,401.84. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EVFM. Vanguard Group Inc bought a new position in Evofem Biosciences in the 3rd quarter worth approximately $879,000. Vanguard Group Inc. bought a new position in Evofem Biosciences in the 3rd quarter worth approximately $879,000. Finally, Geode Capital Management LLC increased its position in Evofem Biosciences by 115.2% in the 4th quarter. Geode Capital Management LLC now owns 73,650 shares of the biotechnology company’s stock worth $308,000 after buying an additional 39,425 shares during the period. 73.09% of the stock is currently owned by institutional investors.

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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