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

Cantor Fitzgerald set a $9.00 price objective on Evofem Biosciences (NASDAQ:EVFM) in a report published on Wednesday. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other analysts have also issued research reports about the stock. Oppenheimer set a $9.00 price target on shares of 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 shares of Evofem Biosciences from a hold rating to a buy rating in a report on Thursday, November 1st. Six analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and an average target price of $10.40.

Shares of Evofem Biosciences stock traded down $0.10 during midday trading on Wednesday, reaching $3.40. The company had a trading volume of 29,340 shares, compared to its average volume of 36,745. Evofem Biosciences has a 1-year low of $1.79 and a 1-year high of $12.90.

Evofem Biosciences (NASDAQ:EVFM) last issued its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.34). Equities analysts predict that Evofem Biosciences will post -5.32 earnings per share for the current fiscal year.

In other Evofem Biosciences news, Director Thomas G. Lynch bought 100,000 shares of the stock in a transaction on Wednesday, August 15th. The stock was purchased at an average price of $2.26 per share, with a total value of $226,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 108,000 shares of company stock valued at $243,770 in the last ninety days. Company insiders own 3.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVFM. Woodford Investment Management Ltd grew its holdings in Evofem Biosciences by 28.5% during the 2nd quarter. Woodford Investment Management Ltd now owns 9,593,197 shares of the biotechnology company’s stock worth $25,998,000 after acquiring an additional 2,127,659 shares during the period. Millennium Management LLC grew its holdings in Evofem Biosciences by 6,497.4% during the 2nd quarter. Millennium Management LLC now owns 733,765 shares of the biotechnology company’s stock worth $1,989,000 after acquiring an additional 722,643 shares during the period. Finally, Heartland Advisors Inc. acquired a new stake in Evofem Biosciences during the 3rd quarter worth $1,319,000. 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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