Evofem Biosciences Inc (NASDAQ:EVFM) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $10.75.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Evofem Biosciences from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Wednesday, April 17th. Cantor Fitzgerald restated a “buy” rating and set a $9.00 price target on shares of Evofem Biosciences in a report on Monday, March 4th. Oppenheimer boosted their price target on shares of Evofem Biosciences from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Finally, HC Wainwright restated a “buy” rating on shares of Evofem Biosciences in a report on Monday, April 15th.
Shares of NASDAQ:EVFM traded up $0.07 during trading on Friday, reaching $4.93. The company had a trading volume of 1,300 shares, compared to its average volume of 147,305. The firm has a market cap of $171.90 million, a P/E ratio of -0.85 and a beta of 1.58. Evofem Biosciences has a twelve month low of $1.79 and a twelve month high of $7.24.
Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc acquired a new position in Evofem Biosciences in the 3rd quarter valued at approximately $879,000. Geode Capital Management LLC grew its position in 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 acquiring an additional 39,425 shares in the last quarter. Vanguard Group Inc. bought a new stake in Evofem Biosciences in the third quarter worth approximately $879,000. Northern Trust Corp bought a new stake in Evofem Biosciences in the first quarter worth approximately $120,000. Finally, BlueCrest Capital Management Ltd bought a new stake in Evofem Biosciences in the first quarter worth approximately $84,000. Hedge funds and other institutional investors own 63.91% 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.
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