Last Wednesday, Agile Therapeutics announced that the FDA Advisory Committee had voted in favor of Twirla approval. The vote came in at 14 to 1 with 1 abstention.
Although Advisory Committees don’t approve or reject drugs, the FDA holds their opinions so highly that when votes are this positive, they generally lead to approval. So, considering the strong vote here, in a single week, the general view went from Twirla being rejected to the drug being approved.
Of course, this pushed any shorts out, led to a frenzy among investors, and has sent the stock climbing in multiples, with gains that continue today.
So, how high can it go? According to TipRanks, analysts price targets average out around $4.50 with all 5 analysts covering the stock rating it a strong buy!
In my view, the average is likely conservative. Should the FDA approve Twirla, the stock has the potential to climb well above $5 per share given the large market that the drug would tap into.
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