Evofem Biosciences Inc (NASDAQ:EVFM) – Oppenheimer boosted their FY2023 earnings per share estimates for shares of Evofem Biosciences in a report released on Friday, April 12th. Oppenheimer analyst L. Gershell now anticipates that the biotechnology company will earn $0.13 per share for the year, up from their previous estimate of $0.11. Oppenheimer currently has a “Outperform” rating and a $11.00 target price on the stock.

Evofem Biosciences (NASDAQ:EVFM) last announced its quarterly earnings results on Friday, March 1st. The biotechnology company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.15).

Other equities research analysts have also recently issued research reports about the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $9.00 price target on shares of Evofem Biosciences in a research report on Monday, December 17th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price target on shares of Evofem Biosciences in a research report on Monday, January 7th. ValuEngine cut shares of Evofem Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. Finally, Zacks Investment Research cut shares of Evofem Biosciences from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $11.10.

Shares of EVFM opened at $4.12 on Monday. Evofem Biosciences has a fifty-two week low of $1.79 and a fifty-two week high of $8.35. The company has a market capitalization of $111.23 million, a PE ratio of -0.72 and a beta of 1.58.

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in Evofem Biosciences by 115.2% during the 4th quarter. Geode Capital Management LLC now owns 73,650 shares of the biotechnology company’s stock valued at $308,000 after purchasing an additional 39,425 shares in the last quarter. Vanguard Group Inc acquired a new position in Evofem Biosciences during the 3rd quarter valued at approximately $879,000. Finally, Vanguard Group Inc. acquired a new position in Evofem Biosciences during the 3rd quarter valued at approximately $879,000. 73.09% of the stock is owned by institutional investors.

In other news, major shareholder Ltd. Invesco bought 425,531 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The stock was bought at an average price of $2.64 per share, with a total value of $1,123,401.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.40% of the company’s stock.

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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