EVFM - Agile gains as H.C. Wainwright sees 630% upside potential
- Agile Therapeutics ( NASDAQ: AGRX ) rose sharply in the early trading on Monday after H.C. Wainwright doubled the price target on the women's healthcare company to a Street high of $5.00 citing its prospects following the recent Supreme Court ruling on abortion rights.
- In June, the U.S. Supreme Court ruled 6-3 to overturn the landmark 1973 decision in Roe v. Wade triggered a spike in demand for emergency contraceptive pills and prompted several retailers to temporarily impose purchase limits.
- After the ruling Agile ( AGRX ) should benefit with tailwinds for Twirla — the only low dose transdermal hormonal contraceptive, the analyst Oren Livnat argued reaffirming the Buy rating on the stock.
- The new price target $5.00 up from $2.50 per share previously implies a premium of ~630% to the last close.
- Evofem Biosciences ( EVFM ) a company selling an FDA-approved birth control method has outperformed Agile ( AGRX ) after the Roe v. Wade ruling, as shown in this graph.
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Agile gains as H.C. Wainwright sees 630% upside potential