Evoke Pharma Inc (NASDAQ:EVOK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “Evoke Pharma, Inc. is a specialty pharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. The Company’s lead product candidate, EVK-001, is in late stage clinical testing which is intended for the treatment of diabetic gastroparesis. Evoke Pharma, Inc. is based in San Diego, California. “

A number of other research firms have also recently commented on EVOK. FBR & Co reissued a “positive” rating and issued a $9.00 target price on shares of Evoke Pharma in a research note on Tuesday, January 31st. Rodman & Renshaw increased their target price on Evoke Pharma from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Saturday, December 31st. Laidlaw raised Evoke Pharma from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Monday, January 30th. HC Wainwright raised Evoke Pharma from a “neutral” rating to a “buy” rating in a research note on Thursday, January 5th. Finally, Ascendiant Capital Markets increased their target price on Evoke Pharma from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $7.25.

Analyst Recommendations for Evoke Pharma (NASDAQ:EVOK)

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Shares of Evoke Pharma (NASDAQ:EVOK) traded down 1.63% on Monday, hitting $3.01. The stock had a trading volume of 204,050 shares. Evoke Pharma has a 1-year low of $1.35 and a 1-year high of $11.11. The firm has a 50 day moving average of $3.01 and a 200-day moving average of $2.22. The firm’s market capitalization is $37.17 million.

Evoke Pharma (NASDAQ:EVOK) last released its earnings results on Wednesday, March 15th. The specialty pharmaceutical company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.07. During the same period in the prior year, the firm posted ($0.37) earnings per share. Equities analysts predict that Evoke Pharma will post ($0.67) earnings per share for the current year.

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In related news, Director Kenneth J. Widder acquired 450,000 shares of Evoke Pharma stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average cost of $2.90 per share, with a total value of $1,305,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 30.50% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Evoke Pharma stock. State Treasurer State of Michigan boosted its position in Evoke Pharma Inc (NASDAQ:EVOK) by 460.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,000 shares of the specialty pharmaceutical company’s stock after buying an additional 115,000 shares during the period. State Treasurer State of Michigan owned approximately 1.13% of Evoke Pharma worth $316,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.60% of the company’s stock.

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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