Maxim Group analyst Jason McCarthy maintained a Buy rating on Agile Therapeutics (AGRX) today and set a price target of $3. The company’s shares closed on Friday at $1.50.
McCarthy noted:
“Therapeutics reported 1Q19 with a net loss of ($4.7M) and ~ $11.6M of cash on the balance sheet. As such, there should be sufficient runway into 2H19 and through the next catalysts; refiling the Twirla BLA by the end of 2Q19 with potential approval, then positioned for 4Q19. The company also has a $10M ATM in place.”
According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.5% and a 30.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Agile Therapeutics with a $3.14 average price target.
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The company has a one-year high of $2.95 and a one-year low of $0.23. Currently, Agile Therapeutics has an average volume of 574.7K.
Based on the recent corporate insider activity of 14 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 AGRX in relation to earlier this year.
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Agile Therapeutics, Inc. is a healthcare company, which engages in the development and commercialization of transdermal patch. Its lead product candidate, Twirla, also known as AG200-15, is an investigational low-dose, non-daily prescription contraceptive. The company was founded by Chien Te Yen on December 22, 1997 and is headquartered in Princeton, NJ.
