Evofem Biosciences (EVFM) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Evofem Biosciences (NASDAQ:EVFM) from a buy rating to a hold rating in a report issued on Monday morning, Zacks.com reports.

According to Zacks, “Evofem Biosciences Inc. develops and anticipates commercializing products which support and promote women as the primary healthcare consumer. The company is identifying and developing new and novel products which specifically address unmet needs in the areas of sexual and reproductive health, the prevention of acquisition of sexually transmitted infections and products which address or promote general health and wellbeing. Evofem Biosciences Inc., formerly known as Neothetics Inc., is based in SAN DIEGO CA. “

A number of other equities research analysts also recently commented on EVFM. HC Wainwright restated a buy rating on shares of Evofem Biosciences in a research report on Monday, April 15th. Oppenheimer raised their price objective on shares of Evofem Biosciences from $9.00 to $11.00 and gave the company an outperform rating in a research report on Friday, April 12th. Finally, Cantor Fitzgerald set a $9.00 price objective on shares of Evofem Biosciences and gave the company a buy rating in a research report on Friday, April 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Evofem Biosciences has an average rating of Buy and an average target price of $10.00.

Shares of NASDAQ EVFM traded down $0.06 during midday trading on Monday, reaching $4.96. 28,599 shares of the company were exchanged, compared to its average volume of 136,679. Evofem Biosciences has a 1 year low of $1.79 and a 1 year high of $7.24. The firm has a market cap of $177.20 million, a P/E ratio of -0.86 and a beta of 1.58.

Evofem Biosciences (NASDAQ:EVFM) last released its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.05). On average, equities analysts forecast that Evofem Biosciences will post -1.53 EPS for the current year.

Large investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd acquired a new stake in shares of Evofem Biosciences during the 1st quarter valued at approximately $84,000. Northern Trust Corp acquired a new stake in shares of Evofem Biosciences during the 1st quarter valued at approximately $120,000. Geode Capital Management LLC lifted its position in shares of Evofem Biosciences by 115.2% during the 4th quarter. Geode Capital Management LLC now owns 73,650 shares of the biotechnology company’s stock valued at $308,000 after acquiring an additional 39,425 shares during the period. Vanguard Group Inc acquired a new stake in shares of Evofem Biosciences during the 3rd quarter valued at approximately $879,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Evofem Biosciences during the 3rd quarter valued at approximately $879,000. Hedge funds and other institutional investors own 58.18% of the company’s stock.

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, a non-hormonal woman-controlled vaginal gel, which is in Phase 3 clinical trial for the prevention of pregnancy; and in Phase 2b trial for the prevention of chlamydia and gonorrhea in women.

Further Reading: Dow Jones Industrial Average (DJIA)

Get a free copy of the Zacks research report on Evofem Biosciences (EVFM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Evofem Biosciences (NASDAQ:EVFM)

Receive News & Ratings for Evofem Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evofem Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.