Evofem Biosciences, Inc. (NASDAQ:EVFM) Expected to Post Earnings of -$2.78 Per Share

Wall Street brokerages predict that Evofem Biosciences, Inc. (NASDAQ:EVFMGet Rating) will announce earnings of ($2.78) per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Evofem Biosciences’ earnings, with estimates ranging from ($2.88) to ($2.69). Evofem Biosciences posted earnings of ($4.05) per share in the same quarter last year, which would suggest a positive year over year growth rate of 31.4%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Evofem Biosciences will report full-year earnings of ($10.00) per share for the current financial year, with EPS estimates ranging from ($10.14) to ($9.85). For the next financial year, analysts anticipate that the business will post earnings of ($2.86) per share, with EPS estimates ranging from ($3.88) to ($1.84). Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Evofem Biosciences.

Evofem Biosciences (NASDAQ:EVFMGet Rating) last released its quarterly earnings results on Thursday, March 3rd. The biotechnology company reported ($4.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.45) by ($1.50). The firm had revenue of $3.57 million for the quarter, compared to analyst estimates of $3.52 million. During the same quarter in the prior year, the company earned ($7.50) EPS.

A number of analysts have recently weighed in on EVFM shares. Laidlaw started coverage on shares of Evofem Biosciences in a report on Thursday. They issued a “buy” rating and a $3.50 price target on the stock. Morgan Stanley raised their price target on shares of Evofem Biosciences from $7.95 to $8.55 and gave the company an “underweight” rating in a report on Tuesday, April 12th.

In other news, CEO Saundra L. Pelletier acquired 141,000 shares of the firm’s stock in a transaction on Friday, May 27th. The stock was acquired at an average price of $0.35 per share, for a total transaction of $49,350.00. Following the completion of the transaction, the chief executive officer now owns 236,722 shares in the company, valued at approximately $82,852.70. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG increased its stake in shares of Evofem Biosciences by 441.4% during the third quarter. UBS Group AG now owns 46,432 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 37,855 shares in the last quarter. Mirador Capital Partners LP grew its stake in Evofem Biosciences by 530.8% during the 4th quarter. Mirador Capital Partners LP now owns 80,017 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 67,332 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Evofem Biosciences by 148.0% during the 3rd quarter. Goldman Sachs Group Inc. now owns 89,997 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 53,707 shares in the last quarter. Morgan Stanley grew its stake in Evofem Biosciences by 29.6% during the 1st quarter. Morgan Stanley now owns 132,016 shares of the biotechnology company’s stock valued at $231,000 after acquiring an additional 30,114 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Evofem Biosciences by 5,822.7% during the 4th quarter. JPMorgan Chase & Co. now owns 132,490 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 130,253 shares in the last quarter. 12.92% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:EVFM traded down $0.00 during trading on Thursday, reaching $0.35. The stock had a trading volume of 387,196 shares, compared to its average volume of 2,676,281. Evofem Biosciences has a one year low of $0.34 and a one year high of $21.30. The company has a market capitalization of $4.24 million, a P/E ratio of -0.02 and a beta of 0.09. The firm’s 50-day simple moving average is $2.98 and its 200 day simple moving average is $5.24.

About Evofem Biosciences (Get Rating)

Evofem Biosciences, Inc, a biopharmaceutical company, develops and commercializes various products to address unmet needs in women's sexual and reproductive health. Its commercial product is Phexxi, a vaginal gel for the prevention of pregnancy. The company is also involved in the development of EVO100, an antimicrobial vaginal gel for the prevention of urogenital transmission of Chlamydia trachomatis infection and Neisseria gonorrhoeae infection in women.

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