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Major Improvements In Evofem Biosciences Inc. (EVFM) Stock Need To Be Considered

Evofem Biosciences Inc. (NASDAQ:EVFM) price on Thursday, May 26, fall -3.61% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.35.

A look at the stock’s price movement, the close in the last trading session was $0.36, moving within a range at $0.34 and $0.3671. The beta value (5-Year monthly) was -0.56. Turning to its 52-week performance, $21.30 and $0.34 were the 52-week high and 52-week low respectively. Overall, EVFM moved -87.43% over the past month.

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Evofem Biosciences Inc.’s market cap currently stands at around $12.00 million, with investors looking forward to this quarter’s earnings report slated for Mar 02, 2022 – Mar 07, 2022. Analysts project the company’s earnings per share (EPS) to be -$3, which has seen fiscal year 2022 EPS growth forecast to increase to -$9.15 and about -$4.9 for fiscal year 2023. Per the data, EPS growth is expected to be 61.40% for 2022 and 46.40% for the next financial year.

Analysts have a consensus estimate of $4.25 million for the company’s revenue for the quarter, with a low and high estimate of $4.3 million and $4.8 million respectively. The average forecast suggests up to a 160.80% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $32.62 million, representing a 296.60% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that EVFM is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.

3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend EVFM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

EVFM’s current price about -74.62% and -89.17% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 13.56, while 7-day volatility ratio is 14.03% and 13.85% in the 30-day chart. Further, Evofem Biosciences Inc. (EVFM) has a beta value of 0.28, and an average true range (ATR) of 0.20. Analysts have given the company’s stock an average 52-week price target of $25.67, forecast between a low of $2.00 and high of $45.00. Looking at the price targets, the low is -471.43% off current price level while to achieve the yearly target high, price needs to move -12757.14%. Nonetheless, investors will most likely welcome a -8471.43% jump to $30.00 which is the analysts’ median price.

In the market, a comparison of Evofem Biosciences Inc. (EVFM) and its peers suggest the former has performed considerably weaker. Data shows EVFM’s intraday price has changed -3.61% in last session and -97.13% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 1.99% and 1.61% respectively in the last trading.

If we refocus on Evofem Biosciences Inc. (NASDAQ:EVFM), historical trading data shows that trading volumes averaged 859.95K over the past 3 months. The company’s latest data on shares outstanding shows there are 163.14 million shares.

The 1.50% of Evofem Biosciences Inc.’s shares are in the hands of company insiders while institutional holders own 15.60% of the company’s shares. Current price change has pushed the stock -93.84% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the EVFM stock continues to rise going into the next quarter.

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