Evofem Biosciences (EVFM) Posts Quarterly Earnings Results

Evofem Biosciences (NASDAQ:EVFM) posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.50) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.05), Morningstar.com reports.

EVFM traded down $0.05 on Friday, hitting $6.39. 48 shares of the stock traded hands, compared to its average volume of 144,560. Evofem Biosciences has a 52 week low of $1.79 and a 52 week high of $7.24. The firm has a market capitalization of $209.37 million, a price-to-earnings ratio of -1.10 and a beta of 1.58.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new position in Evofem Biosciences during the first quarter valued at about $84,000. Northern Trust Corp acquired a new stake in Evofem Biosciences during the first quarter valued at approximately $120,000. Geode Capital Management LLC boosted its holdings in Evofem Biosciences by 115.2% during the fourth 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 stake in Evofem Biosciences during the third quarter valued at approximately $879,000. Finally, Vanguard Group Inc acquired a new stake in Evofem Biosciences during the third quarter valued at approximately $879,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

A number of equities analysts have recently commented on the company. Oppenheimer lifted their price objective on Evofem Biosciences from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Cantor Fitzgerald reiterated a “buy” rating and issued a $9.00 price objective on shares of Evofem Biosciences in a research note on Monday, March 4th. Zacks Investment Research lowered Evofem Biosciences from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. HC Wainwright reiterated a “buy” rating on shares of Evofem Biosciences in a research note on Monday, April 15th. Finally, ValuEngine upgraded Evofem Biosciences from a “hold” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $9.42.

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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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Earnings History for Evofem Biosciences (NASDAQ:EVFM)

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