-$0.37 Earnings Per Share Expected for Evofem Biosciences Inc (EVFM) This Quarter

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Wall Street analysts forecast that Evofem Biosciences Inc (NASDAQ:EVFM) will announce ($0.37) earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Evofem Biosciences’ earnings. The highest EPS estimate is ($0.30) and the lowest is ($0.42). Evofem Biosciences reported earnings of ($0.78) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 52.6%. The firm is expected to announce its next quarterly earnings report before the market opens on Wednesday, November 7th.

On average, analysts expect that Evofem Biosciences will report full year earnings of ($5.32) per share for the current fiscal year, with EPS estimates ranging from ($6.43) to ($4.88). For the next fiscal year, analysts anticipate that the company will report earnings of ($1.37) per share, with EPS estimates ranging from ($1.53) to ($1.20). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Evofem Biosciences.

Evofem Biosciences (NASDAQ:EVFM) last announced its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($1.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.59).

A number of analysts recently issued reports on EVFM shares. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Evofem Biosciences in a report on Wednesday, August 29th. Oppenheimer set a $9.00 price objective on shares of Evofem Biosciences and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, Cantor Fitzgerald set a $9.00 price objective on shares of Evofem Biosciences and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $10.40.

NASDAQ EVFM traded down $0.05 during mid-day trading on Wednesday, reaching $3.35. 10,641 shares of the stock were exchanged, compared to its average volume of 43,687. Evofem Biosciences has a 1 year low of $1.79 and a 1 year high of $12.90.

In related news, Director Thomas G. Lynch acquired 100,000 shares of Evofem Biosciences stock in a transaction on Wednesday, August 15th. The stock was bought at an average cost of $2.26 per share, for a total transaction of $226,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 121,715 shares of company stock valued at $272,226 over the last 90 days. 3.40% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Evofem Biosciences stock. Woodford Investment Management Ltd boosted its stake in shares of Evofem Biosciences Inc (NASDAQ:EVFM) by 28.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 9,593,197 shares of the biotechnology company’s stock after acquiring an additional 2,127,659 shares during the period. Evofem Biosciences comprises about 3.2% of Woodford Investment Management Ltd’s holdings, making the stock its 7th biggest holding. Woodford Investment Management Ltd owned 37.17% of Evofem Biosciences worth $25,998,000 as of its most recent filing with the SEC. 79.29% of the stock is owned by institutional investors and hedge funds.

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 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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