Evofem Biosciences (EVFM) Received its Third Buy in a Row

By Ryan Adsit

After H.C. Wainwright and RBC Capital gave Evofem Biosciences (NASDAQ: EVFM) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Leland Gershell assigned a Buy rating to Evofem Biosciences yesterday and set a price target of $23.00. The company’s shares closed last Friday at $4.99.

According to TipRanks.com, Gershell is a 5-star analyst with an average return of 14.6% and a 52.8% success rate. Gershell covers the Healthcare sector, focusing on stocks such as Milestone Pharmaceuticals, BioMarin Pharmaceutical, and Corbus Pharmaceuticals.

Currently, the analyst consensus on Evofem Biosciences is a Strong Buy with an average price target of $12.50, implying a 152.5% upside from current levels. In a report issued on May 22, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $9.00 price target.

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The company has a one-year high of $7.50 and a one-year low of $3.34. Currently, Evofem Biosciences has an average volume of 381.5K.

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Evofem Biosciences, Inc. develops therapeutic solutions to meet sexual and reproductive health needs of women. Its product include Amphora Contraceptive for the prevention of pregnancy, antimicrobial drug product for the prevention of sexually transmitted infections and Antimicrobial Drug product to prevent the reoccurrence of bacterial vaginosis. The company was founded in 2007 and is headquartered in San Diego, CA.