H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Evofem to $11 from $9 saying the company earlier this morning reported positive top-line results from a Phase 2b clinical trial evaluating the efficacy and safety of its lead product candidate Amphora for the prevention of urogenital chlamydia and gonorrhea. The new price target reflects slightly higher market penetration rates for Amphora in both contraception and sexually-transmitted infections prevention for women, along with an increased probability of launch in STI prevention.