Woman-Health Focused Stock Agile Therapeutics Is 'Better Positioned,' Analyst Says While Upgrading Stock

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  • Maxim Group upgraded Agile Therapeutics Inc AGRX to Buy from Hold with a price target of $1, saying it should be better positioned to begin to rebound.
  • Agile recently closed an equity offering, raising around $24 million in gross proceeds, and brought in around $12.8 million from its ATM facility. The cash runway should be sufficient into 1Q23.
  • In addition, management is enacting austerity measures and refining its commercial efforts, Maxim notes.
  • Related: HC Wainwright Sees Agile Therapeutics' Twirla Tailwinds Post Roe-Wade Ruling.
  • Additionally, Maxim believes that Agile now has some 'breathing room' to focus on its commercial strategy for Twirla. 
  • Several potential tailwinds in the women's health space could benefit Twirla's trajectory. 
  • These include the Wade vs. Roe decision in June, which in part has brought increased focus on contraceptive options and access for women to the forefront.
  • Related: Agile Therapeutics Tightens Q2 Forecast For Contraceptive Patch 'Twirla.'
  • According to Maxim, Agile's Twirla remains the safest contraceptive patch option as a low-dose estrogen patch, unlike marketed competitors. The combined hormonal contraceptive market is significant, estimated to be ~$4.1B, but most of the market remains focused on pills and rings.
  • Price Action: AGRX shares are up 4.25% at $0.52 during the market session on the last check Tuesday.
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Posted In: Analyst ColorBiotechNewsPenny StocksUpgradesHealth CarePrice TargetAnalyst RatingsMoversTrading IdeasGeneralBriefs
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