Evofem Biosciences (EVFM) Earns Buy Rating from Cantor Fitzgerald
Cantor Fitzgerald reiterated their buy rating on shares of Evofem Biosciences (NASDAQ:EVFM) in a research note released on Thursday. They currently have a $9.00 price target on the biotechnology company’s stock.
“: We reiterate the Overweight rating and 12-month PT of $9 for EVFM stock. If successfully developed and commercialized, we believe Amphora will become an important product for sexually active women who elect not to practice contraception.”,” the firm’s analyst commented.
Several other equities research analysts have also issued reports on EVFM. Oppenheimer set a $9.00 price objective on Evofem Biosciences and gave the company a buy rating in a research note on Friday, August 3rd. HC Wainwright set a $11.00 price objective on Evofem Biosciences and gave the company a buy rating in a research note on Monday, August 6th. Finally, ValuEngine raised Evofem Biosciences from a hold rating to a buy rating in a research note on Thursday, November 1st. Six analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and a consensus price target of $10.40.
Evofem Biosciences (NASDAQ:EVFM) last announced 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). Equities research analysts predict that Evofem Biosciences will post -5.58 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of EVFM. Heartland Advisors Inc. bought a new stake in Evofem Biosciences during the third quarter valued at $1,319,000. Millennium Management LLC boosted its stake in Evofem Biosciences by 6,497.4% during the second quarter. Millennium Management LLC now owns 733,765 shares of the biotechnology company’s stock valued at $1,989,000 after buying an additional 722,643 shares during the period. Finally, Woodford Investment Management Ltd boosted its stake in Evofem Biosciences by 28.5% during the second quarter. Woodford Investment Management Ltd now owns 9,593,197 shares of the biotechnology company’s stock valued at $25,998,000 after buying an additional 2,127,659 shares during the period. 80.49% of the stock is owned by institutional investors.
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.
Read More: Asset Allocation
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.