Evofem Biosciences (NASDAQ:EVFM) Cut to “Hold” at Zacks Investment Research
According to Zacks, “Evofem Biosciences Inc. develops and anticipates commercializing products which support and promote women as the primary healthcare consumer. The company is identifying and developing new and novel products which specifically address unmet needs in the areas of sexual and reproductive health, the prevention of acquisition of sexually transmitted infections and products which address or promote general health and wellbeing. Evofem Biosciences Inc., formerly known as Neothetics Inc., is based in SAN DIEGO CA. “
Other analysts have also issued reports about the stock. HC Wainwright set a $9.00 price objective on shares of Evofem Biosciences and gave the stock a “buy” rating in a research note on Tuesday, May 28th. ValuEngine lowered shares of Evofem Biosciences from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $8.69.
In other Evofem Biosciences news, major shareholder Pdl Biopharma, Inc. acquired 6,666,667 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of $4.50 per share, with a total value of $30,000,001.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Evofem Biosciences in the second quarter worth about $25,000. King Luther Capital Management Corp purchased a new stake in Evofem Biosciences in the second quarter worth about $100,000. Susquehanna International Group LLP purchased a new stake in Evofem Biosciences in the second quarter worth about $149,000. JPMorgan Chase & Co. purchased a new stake in Evofem Biosciences in the second quarter worth about $163,000. Finally, Bank of New York Mellon Corp purchased a new stake in Evofem Biosciences in the second quarter worth about $215,000. 51.47% of the stock is owned by institutional investors.
Evofem Biosciences Company Profile
Evofem Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes women's sexual and reproductive health products. Its lead product candidate is Amphora, a non-hormonal woman-controlled vaginal gel, which is in Phase 3 clinical trial for the prevention of pregnancy; and in Phase 2b trial for the prevention of chlamydia and gonorrhea in women.
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