Evofem Biosciences Inc. (NASDAQ: EVFM) stock fell -4.71% on Friday to $0.79 against a previous-day closing price of $0.83. With 10.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 32.68 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $0.8198 whereas the lowest price it dropped to was $0.7400. The 52-week range on EVFM shows that it touched its highest point at $14.61 and its lowest point at $0.28 during that stretch. It currently has a 1-year price target of $16.25. Beta for the stock currently stands at -1.40.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of EVFM was down-trending over the past week, with a drop of -4.79%, but this was down by -26.31% over a month. Three-month performance dropped to -70.94% while six-month performance fell -87.24%. The stock lost -93.72% in the past year, while it has lost -86.00% so far this year. A look at the trailing 12-month EPS for EVFM yields -18.97 with Next year EPS estimates of -0.93. For the next quarter, that number is -0.96. This implies an EPS growth rate of 25.70% for this year and 46.40% for next year.
Float and Shares Shorts:
At present, 163.14 million EVFM shares are outstanding with a float of 155.32 million shares on hand for trading. On Apr 28, 2022, short shares totaled 1.19 million, which was 9.78% higher than short shares on Mar 30, 2022. In addition to Ms. Saundra Pelletier as the firm’s Interim Chair, Pres & CEO, Mr. Justin J. File serves as its Chief Financial Officer.
Other institutions hold 4.01% of EVFM, in contrast to 0.60% held by mutual funds. Shares owned by individuals account for -0.82%. As the largest shareholder in EVFM with 1.00% of the stake, The Vanguard Group, Inc. holds 423,874 shares worth 423,874. A second-largest stockholder of EVFM, BlackRock Fund Advisors, holds 258,162 shares, controlling over 0.61% of the firm’s shares. Mirador Capital Partners LP is the third largest shareholder in EVFM, holding 187,180 shares or 0.44% stake. With a 3.22% stake in EVFM, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,137,243 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.44% of EVFM stock, is the second-largest Mutual Fund holder. It holds 154,402 shares valued at 0.17 million. Fidelity Extended Market Index Fu holds 0.17% of the stake in EVFM, owning 59,265 shares worth 66969.0.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for EVFM since 4 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With EVFM analysts setting a high price target of $3.50 and a low target of $0.75, the average target price over the next 12 months is $2.31. Based on these targets, EVFM could surge 343.04% to reach the target high and fall by -5.06% to reach the target low. Reaching the average price target will result in a growth of 192.41% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. EVFM will report FY 2022 earnings on 03/02/2023. Analysts have provided yearly estimates in a range of -$3.90 being high and -$23.10 being low. For EVFM, this leads to a yearly average estimate of -$9.01. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Evofem Biosciences Inc. surprised analysts by -$0.10 when it reported -$2.88 EPS against a consensus estimate of -$2.77. The surprise factor in the prior quarter was -$1.57. Based on analyst estimates, the high estimate for the next quarter is -$0.62 and the low estimate is -$8.25. The average estimate for the next quarter is thus -$2.89.
Summary of Insider Activity:
Insiders traded EVFM stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 141,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 1,841,594 while 540,000 shares were sold.