- 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, prompting several retailers to temporarily impose purchase limits on emergency contraceptive pills.
After the ruling, Agile (AGRX) should benefit from tailwinds for its lead product 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.