Cantor Fitzgerald Reiterates $9.00 Price Target for Evofem Biosciences (EVFM)

Cantor Fitzgerald set a $9.00 price objective on Evofem Biosciences (NASDAQ:EVFM) in a report published on Thursday morning. The firm currently has a buy rating on the biotechnology company’s stock. Cantor Fitzgerald also issued estimates for Evofem Biosciences’ FY2018 earnings at ($4.88) EPS and FY2019 earnings at ($1.53) EPS.

A number of other brokerages have also weighed in on EVFM. HC Wainwright set a $11.00 target price on shares of Evofem Biosciences and gave the stock a buy rating in a research report on Monday, August 6th. Oppenheimer set a $9.00 target price on shares of Evofem Biosciences and gave the stock a buy rating in a research report on Friday, August 3rd. Royal Bank of Canada initiated coverage on shares of Evofem Biosciences in a research report on Wednesday, June 27th. They set an outperform rating and a $8.00 target price for the company. Finally, Roth Capital initiated coverage on shares of Evofem Biosciences in a research report on Wednesday, June 20th. They set a buy rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Evofem Biosciences has an average rating of Buy and an average price target of $10.40.

EVFM opened at $3.94 on Thursday. Evofem Biosciences has a 1-year low of $1.79 and a 1-year high of $12.90.

Evofem Biosciences (NASDAQ:EVFM) last posted its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($1.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.59). On average, research analysts expect that Evofem Biosciences will post -5.32 EPS for the current fiscal year.

In other Evofem Biosciences news, Director Thomas G. Lynch acquired 100,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was acquired at an average price of $2.26 per share, for a total transaction of $226,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 121,715 shares of company stock valued at $272,226 in the last quarter. 3.40% of the stock is owned by company insiders.

An institutional investor recently raised its position in Evofem Biosciences stock. Millennium Management LLC increased its stake in Evofem Biosciences Inc (NASDAQ:EVFM) by 6,497.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 733,765 shares of the biotechnology company’s stock after buying an additional 722,643 shares during the period. Millennium Management LLC owned 2.84% of Evofem Biosciences worth $1,989,000 as of its most recent SEC filing. 78.25% of the stock is owned by hedge funds and other institutional investors.

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 that is in Phase 3 trial for contraception; and in Phase 2b/3 clinical trial for prevention of chlamydia and gonorrhea in women.

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Analyst Recommendations for Evofem Biosciences (NASDAQ:EVFM)

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