Maxim Group upgraded Agile Therapeutics (NASDAQ:AGRX) to “buy” from “hold” and set a $1 price target, after the company closed a recent equity offering, enacted austerity measures and refined its commercial efforts. The stock closed at 50 cents on July 25.
Analyst Naz Rahman writes that Agile’s cash runway should be sufficient into the first quarter of 2023 following the $24-million equity offering.
In addition to Agile now having some “breathing room” to focus on its commercial strategy for Twirla, he said there are several potential tailwinds in the women’s health space that could benefit Twirla’s trajectory.
These include the Supreme Court decision in June, which in-part has brought increased focus on contraceptive options and access for women to the forefront, he added.
“Combined, Agile shares should be better positioned to begin to rebound, in our view,” Mr. Rahman said.