Dare Bioscience (NASDAQ:DARE) Releases Quarterly Earnings Results, Beats Expectations By $0.42 EPS

Dare Bioscience (NASDAQ:DARE) released its earnings results on Thursday. The biotechnology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.42, FiscalAI reports. The firm had revenue of $1.02 million for the quarter, compared to analysts’ expectations of $0.75 million.

Dare Bioscience Price Performance

Shares of DARE stock traded up $0.11 during mid-day trading on Thursday, hitting $1.51. The company had a trading volume of 194,773 shares, compared to its average volume of 73,338. Dare Bioscience has a 52-week low of $1.27 and a 52-week high of $9.19. The stock’s 50 day moving average price is $1.67 and its 200-day moving average price is $1.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $21.58 million, a P/E ratio of -0.81 and a beta of 0.96.

Institutional Trading of Dare Bioscience

A number of institutional investors and hedge funds have recently bought and sold shares of DARE. LPL Financial LLC purchased a new stake in Dare Bioscience in the 4th quarter worth $28,000. Raymond James Financial Inc. boosted its holdings in shares of Dare Bioscience by 810.6% during the 3rd quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 13,650 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Dare Bioscience during the third quarter valued at about $37,000. 6.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DARE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a research note on Wednesday, January 21st. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Dare Bioscience in a research note on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.00.

Dare Bioscience Company Profile

Dare Bioscience, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for women’s reproductive health. The company’s flagship development candidate is Ovaprene, a monthly, self-administered, non-hormonal contraceptive vaginal ring designed to offer an alternative to traditional hormone-based birth control methods. Through its proprietary intravaginal drug delivery platform, Dare seeks to address unmet medical needs in gynecology and contraception with products that prioritize efficacy, safety and ease of use.

In addition to its lead contraceptive program, Dare is advancing a pipeline of early-stage assets aimed at treating gynecologic conditions through local, non-systemic drug delivery.