Dare Bioscience (NASDAQ:DARE) Issues Quarterly Earnings Results, Beats Expectations By $0.42 EPS

Dare Bioscience (NASDAQ:DARE) posted its earnings results on Thursday. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.42, FiscalAI reports. The company had revenue of $1.02 million during the quarter, compared to the consensus estimate of $0.75 million.

Dare Bioscience Stock Performance

Shares of DARE stock traded up $0.11 during mid-day trading on Thursday, reaching $1.51. 194,773 shares of the company’s stock traded hands, compared to its average volume of 73,338. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $21.58 million, a PE ratio of -0.81 and a beta of 0.96. Dare Bioscience has a 12 month low of $1.27 and a 12 month high of $9.19. The firm has a 50 day moving average price of $1.67 and a two-hundred day moving average price of $1.89.

Analysts Set New Price Targets

DARE has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Dare Bioscience in a report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Dare Bioscience in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Dare Bioscience currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Institutional Trading of Dare Bioscience

Hedge funds have recently bought and sold shares of the stock. LPL Financial LLC bought a new position in shares of Dare Bioscience in the fourth quarter worth about $28,000. Raymond James Financial Inc. increased its holdings in Dare Bioscience by 810.6% in the 3rd quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 13,650 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Dare Bioscience during the 3rd quarter worth approximately $37,000. Institutional investors own 6.70% of the company’s stock.

Dare Bioscience Company Profile

Dare Bioscience, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for women’s reproductive health. The company’s flagship development candidate is Ovaprene, a monthly, self-administered, non-hormonal contraceptive vaginal ring designed to offer an alternative to traditional hormone-based birth control methods. Through its proprietary intravaginal drug delivery platform, Dare seeks to address unmet medical needs in gynecology and contraception with products that prioritize efficacy, safety and ease of use.

In addition to its lead contraceptive program, Dare is advancing a pipeline of early-stage assets aimed at treating gynecologic conditions through local, non-systemic drug delivery.