Shares of Evofem Biosciences Inc (NASDAQ:EVFM) were up 6.6% during trading on Tuesday . The company traded as high as $7.50 and last traded at $7.31, approximately 6,541 shares changed hands during mid-day trading. A decline of 89% from the average daily volume of 59,086 shares. The stock had previously closed at $6.86.

A number of brokerages have issued reports on EVFM. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Evofem Biosciences in a research note on Wednesday, November 27th. ValuEngine cut Evofem Biosciences from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised Evofem Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 price target on shares of Evofem Biosciences in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $8.75.

The stock has a market cap of $332.35 million, a price-to-earnings ratio of -1.27 and a beta of 0.65. The company’s fifty day moving average is $5.39 and its two-hundred day moving average is $5.41.

Evofem Biosciences (NASDAQ:EVFM) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.30) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.01. Analysts forecast that Evofem Biosciences Inc will post -1.56 EPS for the current fiscal year.

In related news, CEO Saundra L. Pelletier sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $6.01, for a total transaction of $60,100.00. Following the completion of the sale, the chief executive officer now owns 424,676 shares in the company, valued at $2,552,302.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 13.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in EVFM. Strs Ohio acquired a new stake in Evofem Biosciences in the 2nd quarter worth about $25,000. Millennium Management LLC acquired a new position in Evofem Biosciences during the 3rd quarter worth about $79,000. King Luther Capital Management Corp bought a new stake in shares of Evofem Biosciences in the 2nd quarter valued at about $100,000. Susquehanna International Group LLP bought a new stake in shares of Evofem Biosciences in the 2nd quarter valued at about $149,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Evofem Biosciences in the 2nd quarter valued at about $163,000. 62.47% of the stock is owned by hedge funds and other institutional investors.

Evofem Biosciences Company Profile (NASDAQ:EVFM)

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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