Cantor Fitzgerald set a $9.00 price objective on Evofem Biosciences (NASDAQ:EVFM) in a research note released on Tuesday. The brokerage currently has a buy rating on the biotechnology company’s stock.
Several other analysts have also recently weighed in on EVFM. Oppenheimer set a $9.00 price target on Evofem Biosciences and gave the stock a buy rating in a report on Friday, August 3rd. HC Wainwright set a $11.00 price objective on Evofem Biosciences and gave the company a buy rating in a report on Monday, August 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Evofem Biosciences has an average rating of Buy and an average target price of $10.40.
NASDAQ:EVFM opened at $3.40 on Tuesday. Evofem Biosciences has a 1-year low of $1.79 and a 1-year high of $12.90.
In related news, Director Thomas G. Lynch acquired 100,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The stock was purchased at an average cost of $2.26 per share, with a total value of $226,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders acquired a total of 121,715 shares of company stock valued at $272,226 over the last ninety days. Insiders own 3.40% of the company’s stock.
A hedge fund recently raised its stake in Evofem Biosciences stock. Millennium Management LLC raised its stake in Evofem Biosciences Inc (NASDAQ:EVFM) by 6,497.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,765 shares of the biotechnology company’s stock after acquiring an additional 722,643 shares during the period. Millennium Management LLC owned approximately 2.84% of Evofem Biosciences worth $1,989,000 at the end of the most recent quarter. 79.29% of the stock is currently owned by institutional investors and hedge funds.
About Evofem Biosciences
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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