Oppenheimer Starts Agile Therapeutics (AGRX) at Outperform

Oppenheimer analyst Leland Gershell initiates coverage on Agile Therapeutics (NASDAQ: AGRX) with a Outperform rating and a price target of $5.00.

The analyst commented, "A tortuous development path has left AGRX a broken stock, in our view, but we believe the regulatory boxes have essentially now been checked for once-weekly female contraceptive patch Twirla to garner approval this November following a recent, successful FDA-mandated clinical study. We expect safety and user experience advantages to existing patch to readily drive conversion, implying sales of $250-300M from this segment alone. Beyond base case, we see Twirla having potential to expand the current contraceptive patch market, which we believe underrepresents demand due to outmodedly high hormone dosing and daunting label language. We encourage risk-tolerant investors to build a position ahead of the FDA action date."

For an analyst ratings summary and ratings history on Agile Therapeutics click here. For more ratings news on Agile Therapeutics click here.

Shares of Agile Therapeutics closed at $1.11 yesterday.

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