Evofem Biosciences (EVFM) Received its Third Buy in a Row

After Cantor Fitzgerald and Oppenheimer gave Evofem Biosciences (NASDAQ: EVFM) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Ram Selvaraju reiterated a Buy rating on Evofem Biosciences today and set a price target of $9.00. The company’s shares closed last Monday at $3.45, close to its 52-week low of $3.20.

According to TipRanks.com, Selvaraju is a top 100 analyst with an average return of 29.3% and a 62.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Turning Point Therapeutics, and Black Diamond Therapeutics.

Currently, the analyst consensus on Evofem Biosciences is a Strong Buy with an average price target of $13.40, implying a 283.4% upside from current levels. In a report issued on May 27, Oppenheimer also assigned a Buy rating to the stock with a $25.00 price target.

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The company has a one-year high of $7.50 and a one-year low of $3.20. Currently, Evofem Biosciences has an average volume of 1.61M.

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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. The company was founded in 2007 and is headquartered in San Diego, CA.

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