Morgan Stanley lifts Evofem Biosciences Inc. [EVFM] price estimate. Who else is bullish?


Evofem Biosciences Inc. [NASDAQ: EVFM] traded at a low on 07/29/22, posting a -1.35 loss after which it closed the day’ session at $0.73. The company report on July 29, 2022 that Evofem Biosciences Commends Tri-Agencies for Clarifying that Contraceptives Must be Covered at No Cost to Individuals.

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Evofem Biosciences, Inc., (Nasdaq: EVFM), a women’s healthcare company, today commended the U.S. Department of Health and Human Services, alongside the Departments of Labor and of the Treasury (“the Tri-Agencies”), for taking action to clarify protections for birth control coverage under the Affordable Care Act (ACA).

“Yesterday, the United States took a critical step forward in protecting the right to contraception. The Departments of Labor, Health and Human Services, and Treasury released guidance clarifying that group health plans and insurers must cover contraceptives, including emergency contraceptives, at no cost to individuals,” said Saundra Pelletier, CEO of Evofem Biosciences. “It is truly gratifying that our government is supporting those of us across the country — in the private sector and in advocacy organizations — who are on the front lines of producing contraception options and having them fully covered in healthcare plans.”.

The results of the trading session contributed to over 15053817 shares changing hands. Over the past one week, the price volatility of Evofem Biosciences Inc. stands at 12.47% while the volatility over the past one month is 20.91%.

The market cap for EVFM stock reached $37.90 million, with 163.14 million shares outstanding and 155.32 million shares in the current float. Compared to the average trading volume of 32.99M shares, EVFM reached a trading volume of 15053817 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $16.25 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 0.19, with the Price to Sales ratio for EVFM stock in the period of the last 12 months amounting to 3.32.

How has EVFM stock performed recently?

Evofem Biosciences Inc. [EVFM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.12. With this latest performance, EVFM shares dropped by -25.56% in over the last four-week period, additionally sinking by -88.18% over the last 6 months – not to mention a drop of -94.48% 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 42.98, with the RSI for the last a single of trading hit 38.65, and the three-weeks RSI is set at 42.73 for Evofem Biosciences Inc. [EVFM]. The present Moving Average for the last 50 days of trading for this stock 0.6884, while it was recorded at 0.7897 for the last single week of trading, and 4.8321 for the last 200 days.

Evofem Biosciences Inc. [EVFM]: Deeper insight into the 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.

Insider trade positions for Evofem Biosciences Inc. [EVFM]

There are presently around $1 million, or 4.20% 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 $0.19 million in EVFM stocks shares; and MIRADOR CAPITAL PARTNERS LP, currently with $0.14 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 272,741 shares. Additionally, 28 investors decreased positions by around 489,676 shares, while 19 investors held positions by with 586,909 shares. The mentioned changes placed institutional holdings at 1,349,326 shares, according to the latest SEC report filing. EVFM stock had 9 new institutional investments in for a total of 10,261 shares, while 12 institutional investors sold positions of 262,812 shares during the same period.