Dare Bioscience (NASDAQ:DARE) Shares Pass Above 50-Day Moving Average – Here’s Why

Shares of Dare Bioscience, Inc. (NASDAQ:DARE) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.95 and traded as high as $2.52. Dare Bioscience shares last traded at $2.38, with a volume of 396,860 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Dare Bioscience in a report on Tuesday, December 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Dare Bioscience in a report on Wednesday, October 8th. Finally, Maxim Group upgraded shares of Dare Bioscience from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Dare Bioscience Price Performance

The stock’s 50 day moving average is $1.95 and its two-hundred day moving average is $2.24. The stock has a market capitalization of $34.01 million, a PE ratio of -1.27 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.18 and a quick ratio of 1.18.

Dare Bioscience (NASDAQ:DARE) last posted its earnings results on Thursday, November 13th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $0.01 million. As a group, sell-side analysts forecast that Dare Bioscience, Inc. will post -0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dare Bioscience

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. increased its position in shares of Dare Bioscience by 810.6% during the third quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 13,650 shares in the last quarter. Virtu Financial LLC purchased a new position in Dare Bioscience during the 3rd quarter worth approximately $37,000. Finally, AMH Equity Ltd grew its stake in Dare Bioscience by 20.0% during the 3rd quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock worth $488,000 after buying an additional 38,770 shares during the last quarter. Hedge funds and other institutional investors own 6.70% of the company’s stock.

Dare Bioscience Company Profile

Daré Bioscience, Inc, a biopharmaceutical company, identifies, develops, and markets products for women's health in the United States. It develops therapies in the areas of contraception, reproductive health, menopause, fertility, and sexual and vaginal health. The company offers XACIATO for the treatment of bacterial vaginosis in female patients 12 years of age and older.