In a report released today, William Tanner from Cantor Fitzgerald maintained a Buy rating on Evofem Biosciences Inc (NASDAQ: EVFM), with a price target of $9. The company’s shares opened today at $3.85.
Tanner noted:
“We believe Evofem Biosciences is well-positioned to introduce an important new product, Amphora, the company’s proprietary multi-purpose vaginal pH regulator (MVP-R). As a non-hormonal contraceptive, we believe Amphora will appeal to women who desire to avoid use of hormone-based products out of concern for safety and side effects. Successful development of Amphora (or other MVP-Rs) to treat conditions of the vagina, e.g., infection with chlamydia or other bacteria, could create attractive opportunities that meaningfully expand the commercial potential, we believe.”
According to TipRanks.com, Tanner is a 3-star analyst with an average return of 1.8% and a 47.5% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Supernus Pharmaceuticals, Intra-Cellular Therapies, and Amag Pharmaceuticals.
Currently, the analyst consensus on Evofem Biosciences Inc is a Strong Buy with an average price target of $9.67.
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The company has a one-year high of $12.90 and a one-year low of $1.79. Currently, Evofem Biosciences Inc has an average volume of 95.78K.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EVFM in relation to earlier this year.
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Evofem Biosciences, Inc. develops therapeutic solutions to meet sexual and reproductive health needs of women. Its product include Amphora Contraceptive for the prevention of pregnancy, antimicrobial drug product for the prevention of sexually transmitted infections, and Antimicrobial Drug product to prevent the reoccurrence of bacterial vaginosis.
