H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Evofem Biosciences (EVFM) today and set a price target of $11.00. The company’s shares closed last Tuesday at $5.79.
According to TipRanks.com, Selvaraju is a top 100 analyst with an average return of 28.3% and a 59.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries, Turning Point Therapeutics, and Black Diamond Therapeutics.
Evofem Biosciences has an analyst consensus of Strong Buy, with a price target consensus of $14.50, implying an 112.3% upside from current levels. In a report issued on May 22, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $9.00 price target.
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Based on Evofem Biosciences’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $19.15 million. In comparison, last year the company had a GAAP net loss of $18.07 million.
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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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