Evofem Biosciences (EVFM) Issues Earnings Results, Misses Expectations By $0.34 EPS

Evofem Biosciences (NASDAQ:EVFM) announced its quarterly earnings results on Wednesday. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.37) by ($0.34), MarketWatch Earnings reports.

NASDAQ:EVFM traded up $0.02 during trading hours on Thursday, reaching $3.58. 82 shares of the company were exchanged, compared to its average volume of 36,064. Evofem Biosciences has a twelve month low of $1.79 and a twelve month high of $12.90.

In related news, Director Thomas G. Lynch acquired 100,000 shares of Evofem Biosciences stock in a transaction on Wednesday, August 15th. The stock was bought at an average cost of $2.26 per share, for a total transaction of $226,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 121,715 shares of company stock valued at $272,226 over the last 90 days. 3.40% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Evofem Biosciences stock. Millennium Management LLC grew its holdings in Evofem Biosciences Inc (NASDAQ:EVFM) by 6,497.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission. 79.29% of the stock is owned by institutional investors and hedge funds.

EVFM has been the topic of a number of recent analyst reports. ValuEngine raised shares of Evofem Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Cantor Fitzgerald set a $9.00 price target on shares of Evofem Biosciences and gave the stock a “buy” rating in a report on Tuesday, October 30th. Oppenheimer set a $9.00 price target on shares of Evofem Biosciences and gave the stock a “buy” rating in a report on Wednesday. Finally, HC Wainwright set a $11.00 price target on shares of Evofem Biosciences and gave the stock a “buy” rating in a report on Monday, August 6th. Six analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $10.40.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by WKRB News and is owned by of WKRB News. If you are accessing this news story on another website, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The original version of this news story can be accessed at https://www.wkrb13.com/2018/11/08/evofem-biosciences-evfm-issues-earnings-results-misses-expectations-by-0-34-eps.html.

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.

Featured Article: Why do corrections happen?

Earnings History for Evofem Biosciences (NASDAQ:EVFM)

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.

Leave a Reply