Stock analysts at Roth Capital initiated coverage on shares of Evofem Biosciences (NASDAQ:EVFM) in a research report issued to clients and investors on Wednesday, June 20th. The firm set a “buy” rating and a $15.00 price target on the biotechnology company’s stock. Roth Capital’s target price would suggest a potential upside of 453.51% from the company’s previous close.
A number of other research firms also recently issued reports on EVFM. HC Wainwright initiated coverage on Evofem Biosciences in a report on Monday, March 19th. They issued a “buy” rating and a $15.00 price objective for the company. ValuEngine upgraded Evofem Biosciences from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 4th. Finally, Oppenheimer initiated coverage on Evofem Biosciences in a report on Monday, June 18th. They set an “outperform” rating and a $9.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Evofem Biosciences has a consensus rating of “Buy” and a consensus target price of $10.75.
Evofem Biosciences opened at $2.71 on Wednesday, according to MarketBeat. Evofem Biosciences has a 12-month low of $1.80 and a 12-month high of $12.90.
In other Evofem Biosciences news, major shareholder Ltd. Invesco acquired 2,127,659 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were bought at an average cost of $4.69 per share, with a total value of $9,978,720.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.
An institutional investor recently bought a new position in Evofem Biosciences stock. Woodford Investment Management Ltd bought a new position in Evofem Biosciences Inc (NASDAQ:EVFM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,465,538 shares of the biotechnology company’s stock, valued at approximately $47,406,000. Evofem Biosciences comprises about 4.2% of Woodford Investment Management Ltd’s investment portfolio, making the stock its 5th largest position. Woodford Investment Management Ltd owned about 42.04% of Evofem Biosciences as of its most recent SEC filing. 55.31% of the stock is currently owned by institutional investors.
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 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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