DARE Stock: Why Daré Bioscience Is on the Move Today

The shares of Daré Bioscience (NASDAQ:DARE) are poised to double in value over two days, as yesterday’s 64% increase is fueling pre-market gains of more than 35% this morning. Should this surge maintain, DARE stock would be looking at a new 52-week high.

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The company that is staking out a leadership position in women’s health innovation last month announced positive results from its Phase 3 clinical trial of a one-time treatment for bacterial vaginosis. The treatment, DARE-BV1, received Fast Track designation from the U.S. Food and Drug Administration earlier this year and, based on the topline results of the trial, Daré said it planned to file a new drug application in the first half of 2021.

The condition affects approximately 21 million women in the United States, usually in their reproductive years, according to the Mayo Clinic. The condition, which generally doesn’t cause complications, can, however, lead to preterm birth or increase the risk of infertility due to infection of the uterus and the fallopian tubes.

Healthcare and Science Emerge as Biden Focus

Beyond the development of Daré Bioscience’s treatment, women’s health issues are in focus by the incoming Biden administration. Importantly, improving maternal health has been identified as a target.

While all states must provide health coverage to pregnant women on Medicaid with incomes up to at least 138% (about $30,000 for a family of three) of the federal poverty level through 60 days after they give birth, gaps remain in coverage beyond that timeframe in many states, the Kaiser Family Foundation wrote last month.

Analysts Like What They See

Meanwhile, analysts are in agreement that DARE stock is a buy. The six who have published 12-month price forecasts have a median target price of $5 per share, with a high estimate of $9 and a low of $3. Even with two days of huge moves, there’s still 60% upside from here to that median price.

Daré’s pipeline also shows promise, with two first-in-category products: a topical treatment for female sexual arousal disorder, with Phase 2b topline data due later this year; and, a hormone-free, monthly contraceptive with study data due next year. The firm’s hormone replacement therapy is in a Phase 1 study, with topline data also expected in the coming months.

Is this a stock for your portfolio? To be sure, clinical-stage drug developers can be a volatile holding. Yet, even at current levels, DARE stock presents an affordable and intriguing play on women’s health that has a respectable number of analysts keeping watch on the company.

On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article. 

InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, following fintech, agtech and property tech startups.

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