Why Evofem Biosciences Inc. [EVFM] Stock Can Charge Above The $2.22 Level

Evofem Biosciences Inc. [EVFM] stock is up 0.91 while the S&P 500 has risen 0.88% on Friday, 12/04/20. While at the time of this article, EVFM ATR is sitting at 0.13, with the beta value at 0.06. This stock’s volatility for the past week remained at 5.26%, while it was 6.25% for the past 30-day period. EVFM has risen $0.02 from the previous closing price of $2.20 on volume of 2.24 million shares.

On 3, December 2020, The U.S. Department of Veterans Affairs Awards Contract to Evofem Biosciences for Phexxi®. According to news published on Yahoo Finance, Evofem Biosciences, Inc., (NASDAQ: EVFM) today announced that the U.S. Department of Veterans Affairs (VA) has awarded the Company a contract for the purchase of Phexxi® (lactic acid, citric acid and potassium bitartrate) for a five-year period beginning December 15, 2020.

Analyst Birdseye View:

The most recent analyst activity for Evofem Biosciences Inc. [NASDAQ:EVFM] stock was on August 20, 2020, when it was Initiated with an Equal-weight rating from Morgan Stanley, which also raised its 12-month price target on the stock to $3. Before that, on October 02, 2020, Stifel Recapitulated a Buy rating and elevated its amount target to $5. On June 08, 2020, Piper Sandler Initiated an Overweight rating and boosted its price target on this stock to $11. On October 16, 2019, Cantor Fitzgerald Resumed an Overweight rating and increased its price target to $9.

In the past 52 weeks of trading, this stock has oscillated between a low of $1.91 and a peak of $7.25. Right now, the middling Wall Street analyst 12-month amount mark is $7.00. At the most recent market close, shares of Evofem Biosciences Inc. [NASDAQ:EVFM] were valued at $2.22.

FUNDAMENTAL ANALYSIS

This company’s Gross Margin is currently 21.90%.

The Principal structure of this organization shows its whole liability to whole principal at 1.24 and the whole liability to whole assets at 0.70.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 2.19 points at 1st support level, the second support level is making up to 2.17. But as of 1st resistance point, this stock is sitting at 2.25 and at 2.29 for 2nd resistance point.

Evofem Biosciences Inc. [EVFM] reported its earnings at -$0.37 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.44/share signifying the difference of 0.07 and 15.90% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$0.91 calling estimates for -$0.37/share with the difference of -0.54 depicting the surprise of -145.90%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Evofem Biosciences Inc. [NASDAQ:EVFM] is 1.60. Likewise, the Quick ratio is also the same, showing Cash ratio at 1.90. Now if looking for a valuation of this stock’s amount to book ratio is 19.00.

Insider Stories

The most recent insider trade was by File Justin J., Chief Financial Officer, and it was the purchase of 7760.0 shares on Nov 17. Fitzpatrick Alexander A, the General Counsel and Secretary, completed a purchase of 9090.0 shares on Nov 17. On Sep 11, Barrans Russell, Chief Commercial Officer, completed a purchase of 3000.0 shares.