Research analysts at Stifel Nicolaus assumed coverage on shares of Evofem Biosciences (NASDAQ:EVFM) in a research note issued to investors on Thursday, The Fly reports. The brokerage set a “buy” rating on the biotechnology company’s stock.
Other equities analysts have also issued research reports about the stock. Morgan Stanley assumed coverage on shares of Evofem Biosciences in a research report on Thursday, August 20th. They set an “equal weight” rating and a $3.00 target price for the company. HC Wainwright reduced their price objective on shares of Evofem Biosciences from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, June 9th. Oppenheimer increased their target price on Evofem Biosciences from $18.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. BidaskClub upgraded Evofem Biosciences from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 18th. Finally, Zacks Investment Research downgraded Evofem Biosciences from a “hold” rating to a “sell” rating in a research note on Tuesday, September 15th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $9.50.
Evofem Biosciences stock traded up $0.03 during trading on Thursday, hitting $2.39. The stock had a trading volume of 1,915,029 shares, compared to its average volume of 2,525,829. The stock’s 50 day moving average is $2.83 and its two-hundred day moving average is $3.79. Evofem Biosciences has a 1 year low of $1.91 and a 1 year high of $7.50. The stock has a market cap of $191.82 million, a price-to-earnings ratio of -1.27 and a beta of 0.28.
In other news, CEO Saundra L. Pelletier sold 122,500 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $3.26, for a total transaction of $399,350.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EVFM. Marshall Wace LLP purchased a new position in Evofem Biosciences in the second quarter worth $6,674,000. Hound Partners LLC bought a new stake in Evofem Biosciences during the second quarter worth about $2,532,000. Heartland Advisors Inc. boosted its holdings in shares of Evofem Biosciences by 66.7% in the 2nd quarter. Heartland Advisors Inc. now owns 1,500,000 shares of the biotechnology company’s stock worth $4,245,000 after purchasing an additional 600,000 shares in the last quarter. Prosight Management LP purchased a new position in shares of Evofem Biosciences in the 2nd quarter worth about $1,168,000. Finally, Tudor Investment Corp Et Al bought a new position in shares of Evofem Biosciences during the 2nd quarter valued at about $729,000. 51.45% of the stock is owned by 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, 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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