EVFM Stock Forecast 2022: Evofem Biosciences Inc. (NASDAQ: EVFM) Is Weak With A -306.98% Downside

In the last trading session, 22.56 million Evofem Biosciences Inc. (NASDAQ:EVFM) shares changed hands as the company’s beta touched -1.37. With the company’s per share price at $0.86 changed hands at -$0.14 or -14.00% during last session, the market valuation stood at $50.34M. EVFM’s last price was a discount, traded about -1636.05% off its 52-week high of $14.93. The share price had its 52-week low at $0.28, which suggests the last value was 67.44% up since then. When we look at Evofem Biosciences Inc.’s average trading volume, we note the 10-day average is 28.82 million shares, with the 3-month average coming to 31.95 million.

Analysts gave the Evofem Biosciences Inc. (EVFM) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 1 out of 4 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended EVFM as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Evofem Biosciences Inc.’s EPS for the current quarter is expected to be -$3.

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Instantly EVFM was in red as seen at the end of in last trading. With action -2.05%, the performance over the past five days has been red. The drop to weekly highs of 1.0800 on Friday, 07/22/22 subtracted -14.00% to the stock’s daily price. The company’s shares are showing year-to-date downside of -84.73%, with the 5-day performance at -2.05% in the red. However, in the 30-day time frame, Evofem Biosciences Inc. (NASDAQ:EVFM) is 170.44% up. Looking at the short shares, we see there were 1.19 million shares sold at short interest cover period of 4.66 days.

The consensus price target for the stock as assigned by Wall Street analysts is $2.31, meaning bulls need an upside of 62.77% from its current market value. According to analyst projections, EVFM’s forecast low is $0.75 with $3.50 as the target high. To hit the forecast high, the stock’s price needs a -306.98% plunge from its current level, while the stock would need to tank 12.79% for it to hit the projected low.

Evofem Biosciences Inc. (EVFM) estimates and forecasts

Data shows that the Evofem Biosciences Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -86.67% over the past 6 months, a 86.95% in annual growth rate that is considerably higher than the industry average of 0.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2022 revenue estimates. The rating firms predict current quarter revenue for Evofem Biosciences Inc. will rise 64.30%, while the growth in revenue is estimated to hit 34.60% for the next quarter. Year-over-year growth is forecast to reach 296.60% up from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $4.25 million. 2 analysts are of the opinion that Evofem Biosciences Inc.’s revenue for the quarter ending Jun 2022 will be $7.43 million. The company’s revenue for the corresponding quarters a year ago was $1.63 million and $1.86 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 160.80%. The estimates for the next quarter sales put growth at 300.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 22.60%. The 2022 estimates are for Evofem Biosciences Inc. earnings to increase by 25.70%.

EVFM Dividends

Evofem Biosciences Inc. is expected to release its next quarterly earnings report between March 02 and March 07.

Evofem Biosciences Inc. (NASDAQ:EVFM)’s Major holders

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