Agile Therapeutics (AGRX) PT Raised to $5 at RBC Capital on Surprise Twirla Recommendation

RBC Capital analyst Randall Stanicky raised the price target on Agile Therapeutics (NASDAQ: AGRX) to $5.00 (from $2.00) while maintaining an Outperform rating.

The analyst commented, "In a surprising turn, today's 14-1 FDA AdCom vote in support of Twirla approval (with one abstention) showed that desire for greater patient choice trumped concerns around efficacy. As a result, we raise our probability of approval to 80% (from 30%) and target to $5 (from $2). With PDUFA coming up quickly 11/16, we expect the stock to materially re-rate tomorrow with focus on take-out to increase."

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