Evoke Pharma Inc. (NASDAQ:EVOK) Receives Consensus Rating of “Hold” from Analysts
Shares of Evoke Pharma Inc. (NASDAQ:EVOK) have earned an average recommendation of “Hold” from the nine ratings firms that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.60.
A number of equities analysts recently issued reports on the company. Noble Financial cut Evoke Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Northland Securities downgraded Evoke Pharma from an “outperform” rating to a “market perform” rating in a report on Monday, July 18th. Rodman & Renshaw reiterated a “buy” rating and set a $27.00 price target on shares of Evoke Pharma in a report on Monday, July 11th. Brean Capital reiterated a “buy” rating on shares of Evoke Pharma in a report on Friday, July 8th. Finally, HC Wainwright set a $2.50 price target on Evoke Pharma and gave the company a “hold” rating in a report on Tuesday, August 16th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. State Treasurer State of Michigan purchased a new position in shares of Evoke Pharma during the second quarter worth approximately $171,000. Vanguard Group Inc. increased its position in shares of Evoke Pharma by 5.0% in the second quarter. Vanguard Group Inc. now owns 62,381 shares of the specialty pharmaceutical company’s stock worth $427,000 after buying an additional 2,947 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Evoke Pharma by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 23,679 shares of the specialty pharmaceutical company’s stock worth $162,000 after buying an additional 464 shares during the period. Hedge funds and other institutional investors own 8.19% of the company’s stock.
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Shares of Evoke Pharma (NASDAQ:EVOK) traded down 1.8279% during midday trading on Monday, hitting $2.1107. The company had a trading volume of 229,642 shares. The firm’s market cap is $26.07 million. The company’s 50 day moving average is $2.03 and its 200 day moving average is $4.26. Evoke Pharma has a one year low of $1.52 and a one year high of $11.11.
Evoke Pharma (NASDAQ:EVOK) last issued its earnings results on Monday, August 15th. The specialty pharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. Equities analysts forecast that Evoke Pharma will post ($1.19) earnings per share for the current fiscal year.
About Evoke Pharma
Evoke Pharma, Inc is a specialty pharmaceutical company. The Company is focused primarily on the development of drugs to treat gastrointestinal (GI) disorders and diseases. The Company is developing EVK-001, a metoclopramide nasal spray for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women.
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