Evofem Biosciences, Inc. (NASDAQ:EVFM) Expected to Announce Quarterly Sales of $4.69 Million

Wall Street analysts expect that Evofem Biosciences, Inc. (NASDAQ:EVFM) will report sales of $4.69 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Evofem Biosciences’ earnings, with the highest sales estimate coming in at $6.15 million and the lowest estimate coming in at $3.30 million. Evofem Biosciences reported sales of $280,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 1,575%. The business is scheduled to report its next quarterly earnings results on Monday, November 8th.

According to Zacks, analysts expect that Evofem Biosciences will report full year sales of $14.18 million for the current year, with estimates ranging from $9.21 million to $19.96 million. For the next financial year, analysts expect that the business will post sales of $59.50 million, with estimates ranging from $28.16 million to $79.29 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Evofem Biosciences.

Evofem Biosciences (NASDAQ:EVFM) last announced its quarterly earnings data on Tuesday, August 10th. The biotechnology company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.08. Evofem Biosciences had a negative return on equity of 1,593.89% and a negative net margin of 4,403.58%.

A number of research analysts have weighed in on EVFM shares. Morgan Stanley reduced their target price on Evofem Biosciences from $3.00 to $1.00 and set an “equal weight” rating for the company in a report on Thursday, August 12th. HC Wainwright reduced their target price on Evofem Biosciences from $7.00 to $4.00 and set a “buy” rating for the company in a report on Monday, June 7th.

Institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund lifted its position in Evofem Biosciences by 19.8% in the 1st quarter. New York State Common Retirement Fund now owns 51,356 shares of the biotechnology company’s stock worth $90,000 after buying an additional 8,500 shares during the last quarter. GSA Capital Partners LLP lifted its position in Evofem Biosciences by 3.9% in the first quarter. GSA Capital Partners LLP now owns 265,286 shares of the biotechnology company’s stock valued at $464,000 after purchasing an additional 9,983 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Evofem Biosciences in the first quarter valued at approximately $31,000. Beacon Pointe Advisors LLC bought a new stake in Evofem Biosciences in the first quarter valued at approximately $33,000. Finally, XTX Topco Ltd bought a new stake in Evofem Biosciences in the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 23.33% of the company’s stock.

EVFM stock traded up $0.01 during mid-day trading on Thursday, reaching $0.78. 1,869,896 shares of the company traded hands, compared to its average volume of 7,155,950. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.40 and a quick ratio of 1.25. The company has a market capitalization of $121.23 million, a P/E ratio of -0.46 and a beta of -0.33. Evofem Biosciences has a 52-week low of $0.65 and a 52-week high of $5.53. The company has a fifty day moving average price of $0.82 and a 200-day moving average price of $1.23.

Evofem Biosciences Company Profile

Evofem Biosciences, Inc is a commercial-stage biopharmaceutical company, which develops and commercializes innovative products to unmet needs in women’s sexual and reproductive health. Its product includes Phexxi (lactic acid, citric acid and potassium bitartrate) a hormone-free vaginal gel and EVO100 an investigational drug, which is used for urogenital Chlamydia trachomatis and Neisseria gonorrhoeae infection in women.

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Earnings History and Estimates for Evofem Biosciences (NASDAQ:EVFM)

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