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

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.