Shares of Evofem Biosciences Inc (NASDAQ:EVFM) have been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $8.67.

A number of equities research analysts have issued reports on the company. Oppenheimer reiterated a “buy” rating on shares of Evofem Biosciences in a research note on Thursday, May 7th. Zacks Investment Research downgraded Evofem Biosciences from a “buy” rating to a “hold” rating in a research note on Tuesday, February 4th. ValuEngine upgraded shares of Evofem Biosciences from a “hold” rating to a “buy” rating in a research report on Friday, April 17th. BidaskClub downgraded shares of Evofem Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, Royal Bank of Canada restated a “buy” rating and set a $6.00 target price on shares of Evofem Biosciences in a research report on Wednesday, March 25th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Evofem Biosciences by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 265,176 shares of the biotechnology company’s stock valued at $1,410,000 after buying an additional 4,551 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Evofem Biosciences by 15.9% during the 4th quarter. Bank of New York Mellon Corp now owns 35,924 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 4,934 shares during the last quarter. UBS Group AG grew its holdings in shares of Evofem Biosciences by 59.8% in the fourth quarter. UBS Group AG now owns 17,834 shares of the biotechnology company’s stock valued at $110,000 after purchasing an additional 6,671 shares in the last quarter. Barclays PLC grew its holdings in shares of Evofem Biosciences by 102.4% in the fourth quarter. Barclays PLC now owns 14,152 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 7,160 shares in the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in Evofem Biosciences in the fourth quarter worth $189,000. Institutional investors and hedge funds own 60.84% of the company’s stock.

NASDAQ:EVFM traded up $0.29 during mid-day trading on Thursday, hitting $5.24. 577,309 shares of the company traded hands, compared to its average volume of 158,970. The stock’s fifty day moving average price is $5.10 and its 200-day moving average price is $5.49. The firm has a market cap of $246.13 million, a price-to-earnings ratio of -2.70 and a beta of 0.29. Evofem Biosciences has a one year low of $3.34 and a one year high of $7.50.

Evofem Biosciences (NASDAQ:EVFM) last posted its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.08). As a group, equities research analysts expect that Evofem Biosciences will post -1.53 EPS for the current fiscal year.

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, a non-hormonal woman-controlled vaginal gel, which is in Phase 3 clinical trial for the prevention of pregnancy; and in Phase 2b trial for the prevention of chlamydia and gonorrhea in women.

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