Brokerages expect Evofem Biosciences Inc (NASDAQ:EVFM) to post ($0.45) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Evofem Biosciences’ earnings, with estimates ranging from ($0.53) to ($0.39). Evofem Biosciences posted earnings per share of ($4.62) during the same quarter last year, which indicates a positive year over year growth rate of 90.3%. The company is expected to report its next quarterly earnings results on Monday, May 13th.
On average, analysts expect that Evofem Biosciences will report full year earnings of ($1.32) per share for the current year, with EPS estimates ranging from ($1.72) to ($0.20). For the next fiscal year, analysts anticipate that the company will report earnings of ($1.17) per share, with EPS estimates ranging from ($1.39) to ($0.87). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Evofem Biosciences.
Evofem Biosciences (NASDAQ:EVFM) last issued its quarterly earnings results on Friday, March 1st. The biotechnology company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.15).
A number of research firms recently issued reports on EVFM. Cantor Fitzgerald reissued a “buy” rating and set a $9.00 price objective on shares of Evofem Biosciences in a research report on Monday, December 17th. HC Wainwright set a $11.00 price objective on Evofem Biosciences and gave the company a “buy” rating in a research report on Monday, December 10th. Oppenheimer set a $9.00 price objective on Evofem Biosciences and gave the company a “buy” rating in a research report on Monday, December 17th. ValuEngine cut Evofem Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. Finally, Zacks Investment Research cut Evofem Biosciences from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $10.70.
In other news, major shareholder Ltd. Invesco acquired 425,531 shares of Evofem Biosciences stock in a transaction that occurred on Friday, February 8th. The stock was purchased at an average price of $2.64 per share, with a total value of $1,123,401.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVFM. Heartland Advisors Inc. acquired a new stake in Evofem Biosciences during the third quarter valued at $1,319,000. Vanguard Group Inc. acquired a new stake in shares of Evofem Biosciences in the third quarter worth about $879,000. Vanguard Group Inc acquired a new stake in shares of Evofem Biosciences in the third quarter worth about $879,000. Finally, Geode Capital Management LLC lifted its position in shares of Evofem Biosciences by 115.2% in the fourth quarter. Geode Capital Management LLC now owns 73,650 shares of the biotechnology company’s stock worth $308,000 after buying an additional 39,425 shares during the last quarter. 79.56% of the stock is owned by hedge funds and other institutional investors.
Shares of EVFM stock traded down $0.09 on Monday, reaching $3.66. 7,235 shares of the company’s stock traded hands, compared to its average volume of 25,231. Evofem Biosciences has a 12-month low of $1.79 and a 12-month high of $8.50. The company has a market capitalization of $102.77 million, a price-to-earnings ratio of -0.64 and a beta of 1.62.
About Evofem Biosciences
Evofem Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes women's sexual and reproductive health products. Its lead product candidate is Amphora that is in Phase 3 trial for contraception; and in Phase 2b/3 clinical trial for prevention of chlamydia and gonorrhea in women.
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