Market Analysts see Evofem Biosciences Inc. [EVFM] gaining to $0.80. Time to buy?


Evofem Biosciences Inc. [NASDAQ: EVFM] price surged by 8.00 percent to reach at $0.1. The company report on June 30, 2022 that Evofem Strengthens Phexxi® Intellectual Property with New Composition of Matter Patent From USPTO.

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Evofem Biosciences, Inc., (Nasdaq: EVFM) announced today that the United States Patent and Trademark Office (USPTO) issued to the Company a Notice of Allowance for patent application 16/738,868 entitled, “Compositions and Methods for Enhancing the Efficacy of Contraceptive Microbicides” which covers the composition of matter of Phexxi® (lactic acid, citric acid, potassium bitartrate) and is expected to provide protection into at least 2033.

With the issuance of this patent, in the United States, Evofem will solely have the right to make, have made, market, and sell for any commercial purpose the composition of matter that comprises Phexxi.

A sum of 60795419 shares traded at recent session while its average daily volume was at 27.13M shares. Evofem Biosciences Inc. shares reached a high of $1.45 and dropped to a low of $1.27 until finishing in the latest session at $1.35.

The one-year EVFM stock forecast points to a potential upside of 91.82. The average equity rating for EVFM stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Evofem Biosciences Inc. [EVFM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EVFM shares is $16.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EVFM stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Evofem Biosciences Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 14, 2021. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on October 02, 2020, representing the official price target for Evofem Biosciences Inc. stock. Previously, the target price had yet another raise to $3, while Morgan Stanley analysts kept a Equal-Weight rating on EVFM stock.

The Average True Range (ATR) for Evofem Biosciences Inc. is set at 0.20, with the Price to Sales ratio for EVFM stock in the period of the last 12 months amounting to 5.26.

EVFM Stock Performance Analysis:

Evofem Biosciences Inc. [EVFM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 19.47. With this latest performance, EVFM shares gained by 275.63% in over the last four-week period, additionally sinking by -76.35% over the last 6 months – not to mention a drop of -90.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EVFM stock in for the last two-week period is set at 65.52, with the RSI for the last a single of trading hit 72.53, and the three-weeks RSI is set at 56.13 for Evofem Biosciences Inc. [EVFM]. The present Moving Average for the last 50 days of trading for this stock 0.9419, while it was recorded at 1.1880 for the last single week of trading, and 5.6097 for the last 200 days.

Insight into Evofem Biosciences Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Evofem Biosciences Inc. [EVFM] shares currently have an operating margin of -2023.30 and a Gross Margin at +21.37. Evofem Biosciences Inc.’s Net Margin is presently recorded at -2488.99.

Evofem Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

Evofem Biosciences Inc. [EVFM] Insider Position Details

There are presently around $2 million, or 4.10% of EVFM stock, in the hands of institutional investors. The top three institutional holders of EVFM stocks are: VANGUARD GROUP INC with ownership of 427,971, which is approximately -6.438% of the company’s market cap and around 0.70% of the total institutional ownership; BLACKROCK INC., holding 260,687 shares of the stock with an approximate value of $0.35 million in EVFM stocks shares; and MIRADOR CAPITAL PARTNERS LP, currently with $0.25 million in EVFM stock with ownership of nearly 3408.679% of the company’s market capitalization.

Positions in Evofem Biosciences Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 25 institutional holders increased their position in Evofem Biosciences Inc. [NASDAQ:EVFM] by around 253,777 shares. Additionally, 24 investors decreased positions by around 489,622 shares, while 24 investors held positions by with 590,870 shares. The mentioned changes placed institutional holdings at 1,334,269 shares, according to the latest SEC report filing. EVFM stock had 10 new institutional investments in for a total of 10,262 shares, while 7 institutional investors sold positions of 259,709 shares during the same period.