Evoke Pharma (NASDAQ: EVOK) has recently received a number of price target changes and ratings updates:

  • 12/1/2017 – Evoke Pharma was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 12/1/2017 – Evoke Pharma was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
  • 11/29/2017 – Evoke Pharma was given a new $9.00 price target on by analysts at HC Wainwright. They now have a “buy” rating on the stock.
  • 11/20/2017 – Evoke Pharma was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
  • 11/15/2017 – Evoke Pharma had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $10.00 price target on the stock.
  • 10/30/2017 – Evoke Pharma had its “buy” rating reaffirmed by analysts at FBR & Co. They now have a $10.00 price target on the stock. They wrote, “Last week, we hosted EVOK’s management, including CEO David Gonyer RPh, along with chief business officer Matthew D’Onofrio, for a conference call with investors. Our call came after EVOK had reported positive results from a comparative PK study with its pipeline drug, Gimoti nasal spray, for treating symptoms of diabetic gastroparesis (delayed stomach emptying not caused by obstruction), versus Reglan. Bottom line: The results showed that two of three doses met targeted bioequivalence ranges, versus Reglan tablets; and EVOK plans to submit its 505 (b) (2) NDA with the FDA during 1Q18. This sets up a potential approval for EVOK’s drug by late 2018/early 2019; we have previously highlighted a peak potential of ~$500M for Gimoti and sales of ~$245M by 2022, with the scenario that EVOK self-markets, building its own sales force, and sees revenue and earnings ramps starting in 2019. Our price target of $10/share reflects a P/E multiple–based target, based upon 2022E earnings power, and a 13.5x multiple, discounted at 15%/year to present value, along with an additional 25% risk discount.””
  • 10/24/2017 – Evoke Pharma had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $9.00 price target on the stock.
  • 10/19/2017 – Evoke Pharma had its “buy” rating reaffirmed by analysts at FBR & Co. They now have a $10.00 price target on the stock.
  • 10/18/2017 – Evoke Pharma had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $10.00 price target on the stock. They 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%.””
  • 10/12/2017 – Evoke Pharma was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. 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. “

Evoke Pharma Inc (NASDAQ EVOK) traded up $0.06 during midday trading on Thursday, hitting $2.64. The stock had a trading volume of 95,907 shares, compared to its average volume of 404,490. Evoke Pharma Inc has a 1-year low of $1.42 and a 1-year high of $4.55.

Evoke Pharma (NASDAQ:EVOK) last released its 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 posted ($0.29) earnings per share. sell-side analysts expect that Evoke Pharma Inc will post -1 EPS for the current year.

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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