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

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. “

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright set a $9.00 price objective on shares of Evoke Pharma and gave the company a “buy” rating in a research report on Wednesday. B. Riley reiterated a “buy” rating and set a $10.00 price objective on shares of Evoke Pharma in a research report on Wednesday, November 15th. FBR & Co reiterated a “buy” rating and set a $10.00 price objective on shares of Evoke Pharma in a research report on Monday, October 30th. Northland Securities reiterated a “buy” rating and set a $10.00 price objective on shares of Evoke Pharma in a research report on Wednesday, October 18th. Finally, Seaport Global Securities reiterated a “buy” rating and set a $10.00 price objective on shares of Evoke Pharma in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $9.00.

Shares of Evoke Pharma (NASDAQ EVOK) remained flat at $$2.67 during trading hours on Friday. 27,243 shares of the company were exchanged, compared to its average volume of 410,391. Evoke Pharma has a 52-week low of $1.42 and a 52-week high of $4.55.

Evoke Pharma (NASDAQ:EVOK) last issued its quarterly earnings results on Tuesday, November 14th. The specialty pharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.13). During the same quarter last year, the firm earned ($0.29) EPS. analysts predict that Evoke Pharma will post -0.75 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sphera Funds Management LTD. increased its position in Evoke Pharma by 14.2% in the third quarter. Sphera Funds Management LTD. now owns 571,022 shares of the specialty pharmaceutical company’s stock worth $1,907,000 after purchasing an additional 71,022 shares during the last quarter. State Treasurer State of Michigan increased its position in Evoke Pharma by 37.0% in the second quarter. State Treasurer State of Michigan now owns 400,000 shares of the specialty pharmaceutical company’s stock worth $1,024,000 after purchasing an additional 108,034 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Evoke Pharma by 15.1% in the second quarter. Vanguard Group Inc. now owns 523,650 shares of the specialty pharmaceutical company’s stock worth $1,341,000 after purchasing an additional 68,544 shares during the last quarter. Institutional investors own 13.64% of the company’s stock.

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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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