Last Updated: 14 Nov 2024
Executive Summary
Dare Bioscience Inc. (DARE) is a clinical-stage biopharmaceutical company focused on women's health products. DARE has a market capitalization of $32.77 million and trades on the NASDAQ exchange. The company's latest stock price is $3.57.
Company Overview
Dare Bioscience is headquartered in San Diego, California. The company's mission is to develop and market innovative therapies that address unmet medical needs in women's health. DARE's lead product candidate is Ovaprene, a non-hormonal contraceptive gel. Ovaprene is currently in Phase 3 clinical trials.
Fundamental Analysis
DARE's financial performance has been mixed in recent years. The company reported a net loss of $26.7 million in 2023. However, DARE's revenue grew by 20% in 2023. The company's gross profit margin was 35% in 2023.
DARE's balance sheet is strong. The company has $45.7 million in cash and equivalents and no debt. DARE's book value is $26.7 million.
Technical Analysis
DARE's stock price has been trending down in recent months. The stock is currently trading below its 50-day and 200-day moving averages. DARE's relative strength index (RSI) is 30, which indicates that the stock is oversold.
Short Term Outlook
DARE's stock price is likely to continue to trade sideways in the short term. The stock is currently facing resistance at its 50-day moving average. DARE's RSI is also indicating that the stock is oversold.
Long Term Outlook
DARE's long-term outlook is positive. The company's lead product candidate, Ovaprene, has the potential to be a blockbuster drug. If Ovaprene is approved by the FDA, DARE's stock price could rise significantly.
Analyst Recommendations
The majority of analysts have a buy rating on DARE's stock. The average analyst target price is $21.33.
