Evofem Biosciences (NASDAQ:EVFM) has been given a $9.00 price target by investment analysts at Cantor Fitzgerald in a report released on Wednesday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 150.00% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Oppenheimer set a $9.00 target price on Evofem Biosciences and gave the company a “buy” rating in a report on Friday, August 3rd. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Evofem Biosciences in a report on Wednesday, August 29th. Finally, ValuEngine raised Evofem Biosciences from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Six investment analysts have rated the stock with a buy rating, Evofem Biosciences has an average rating of “Buy” and an average price target of $10.40.
Shares of Evofem Biosciences stock traded up $0.10 during trading on Wednesday, hitting $3.60. The stock had a trading volume of 2,640 shares, compared to its average volume of 36,064. Evofem Biosciences has a fifty-two week low of $1.79 and a fifty-two week high of $12.90.
In related news, Director Thomas G. Lynch bought 100,000 shares of Evofem Biosciences stock in a transaction dated Wednesday, August 15th. The stock was acquired at an average cost of $2.26 per share, with a total value of $226,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have bought 108,000 shares of company stock valued at $243,770. 3.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Heartland Advisors Inc. purchased a new stake in shares of Evofem Biosciences during the third quarter valued at $1,319,000. Millennium Management LLC raised its position in Evofem Biosciences by 6,497.4% during the second quarter. Millennium Management LLC now owns 733,765 shares of the biotechnology company’s stock valued at $1,989,000 after buying an additional 722,643 shares during the period. Finally, Woodford Investment Management Ltd raised its position in Evofem Biosciences by 28.5% during the second quarter. Woodford Investment Management Ltd now owns 9,593,197 shares of the biotechnology company’s stock valued at $25,998,000 after buying an additional 2,127,659 shares during the period. 79.29% of the stock is 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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