Evoke Pharma, Inc. (NASDAQ:EVOK)‘s stock had its “buy” rating reiterated by research analysts at Northland Securities in a research report issued to clients and investors on Wednesday. They currently have a $10.00 price target on the specialty pharmaceutical company’s stock. Northland Securities’ target price points to a potential upside of 194.12% from the company’s previous close.

The analysts wrote, “We are resuming coverage of Evoke Pharma, Inc. (EVOK) with a Buy rating and a $10 per share price target predicated upon the company being able to (1) show successful results for a PK (pharmacokinetic comparative study in healthy volunteers) study for Gimoti (nasal spray metoclopramide) and (2) successfully file a 505(b)(2) New Drug Application (NDA) by year-end 2017 or early 2018. An investment in EVOK is highly dependent on the success of Gimoti’s PK study and the ability to file this drug with the FDA. We expect Gimoti, if successfully approved, to be a potential $500 million peak sales drug. We see EVOK worth ~ $10 per share based upon potential earnings power of $2.40 per share in 2022. Our valuation represents a risk adjustment of 25%, and valuation is discounted to present at 15%.””

Other analysts also recently issued reports about the stock. ValuEngine downgraded shares of Evoke Pharma from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Zacks Investment Research raised shares of Evoke Pharma from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 12th. Seaport Global Securities reaffirmed a “buy” rating and issued a $10.00 target price on shares of Evoke Pharma in a research report on Friday, October 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Evoke Pharma in a research report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $8.71.

Evoke Pharma (NASDAQ EVOK) traded down 3.68% during midday trading on Wednesday, hitting $3.40. 355,897 shares of the stock traded hands. Evoke Pharma has a 52 week low of $1.35 and a 52 week high of $4.55. The stock’s 50-day moving average price is $3.30 and its 200 day moving average price is $2.76. The company’s market capitalization is $52.32 million.

Evoke Pharma (NASDAQ:EVOK) last issued its quarterly earnings data on Monday, August 14th. The specialty pharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.15). During the same quarter last year, the firm earned ($0.41) EPS. On average, equities research analysts predict that Evoke Pharma will post ($0.87) EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Northland Securities Reiterates “Buy” Rating for Evoke Pharma, Inc. (EVOK)” was published by American Banking News and is owned by of American Banking News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/10/18/northland-securities-reiterates-buy-rating-for-evoke-pharma-inc-evok.html.

An institutional investor recently raised its position in Evoke Pharma stock. Vanguard Group Inc. raised its stake in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) by 15.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 523,650 shares of the specialty pharmaceutical company’s stock after acquiring an additional 68,544 shares during the period. Vanguard Group Inc. owned approximately 3.40% of Evoke Pharma worth $1,341,000 as of its most recent SEC filing. Institutional investors own 12.88% of the company’s stock.

Evoke Pharma Company Profile

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.

Analyst Recommendations for Evoke Pharma (NASDAQ:EVOK)

Receive News & Ratings for Evoke Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evoke Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.