Oppenheimer Analysts Give Evofem Biosciences (EVFM) a $9.00 Price Target

Oppenheimer set a $9.00 price objective on Evofem Biosciences (NASDAQ:EVFM) in a research note released on Wednesday morning. The firm currently has a buy rating on the biotechnology company’s stock.

Several other research firms also recently weighed in on EVFM. HC Wainwright set a $11.00 price target on shares of Evofem Biosciences and gave the stock a buy rating in a research report on Monday, August 6th. Cantor Fitzgerald set a $9.00 price target on shares of Evofem Biosciences and gave the stock a buy rating in a research report on Wednesday. Finally, ValuEngine upgraded shares of Evofem Biosciences from a hold rating to a buy rating in a research report on Thursday, November 1st. Six equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $10.40.

EVFM traded down $0.10 during trading on Wednesday, hitting $3.40. The company’s stock had a trading volume of 29,340 shares, compared to its average volume of 36,745. Evofem Biosciences has a one year low of $1.79 and a one year high of $12.90.

Evofem Biosciences (NASDAQ:EVFM) last released its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.34). On average, equities analysts anticipate that Evofem Biosciences will post -5.32 EPS for the current year.

In other news, Director Thomas G. Lynch acquired 100,000 shares of Evofem Biosciences stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 108,000 shares of company stock worth $243,770 over the last quarter. Insiders own 3.40% of the company’s stock.

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 in the third quarter worth $1,319,000. Millennium Management LLC increased its stake in shares of Evofem Biosciences by 6,497.4% in the second quarter. Millennium Management LLC now owns 733,765 shares of the biotechnology company’s stock worth $1,989,000 after purchasing an additional 722,643 shares in the last quarter. Finally, Woodford Investment Management Ltd increased its stake in shares of Evofem Biosciences by 28.5% in the second quarter. Woodford Investment Management Ltd now owns 9,593,197 shares of the biotechnology company’s stock worth $25,998,000 after purchasing an additional 2,127,659 shares in the last quarter. 79.29% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Evofem Biosciences (NASDAQ:EVFM)

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