Evoke Pharma (EVOK) Raised to Hold at Zacks Investment Research

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

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 analysts also recently issued research reports about the company. B. Riley reaffirmed a “buy” rating and issued a $10.00 target price on shares of Evoke Pharma in a research report on Wednesday, November 15th. HC Wainwright set a $9.00 price target on Evoke Pharma and gave the stock a “buy” rating in a research report on Wednesday, November 29th. FBR & Co reissued a “buy” rating and set a $10.00 price target on shares of Evoke Pharma in a research report on Monday, October 30th. ValuEngine downgraded Evoke Pharma from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Finally, Northland Securities reissued a “buy” rating and set a $10.00 price target on shares of Evoke Pharma in a research report on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $9.14.

Evoke Pharma (NASDAQ:EVOK) traded down $0.06 during trading hours on Tuesday, hitting $2.40. The company had a trading volume of 88,336 shares, compared to its average volume of 78,049. The firm has a market capitalization of $36.99, a P/E ratio of -2.55 and a beta of 1.26. Evoke Pharma has a twelve month low of $2.19 and a twelve month 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.13). During the same quarter last year, the business earned ($0.29) earnings per share. equities analysts anticipate that Evoke Pharma will post -1 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning acquired a new position in Evoke Pharma during the fourth quarter worth approximately $226,000. Sphera Funds Management LTD. increased its position in Evoke Pharma by 14.2% during the third quarter. Sphera Funds Management LTD. now owns 571,022 shares of the specialty pharmaceutical company’s stock worth $1,907,000 after buying an additional 71,022 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Evoke Pharma by 15.1% during the second quarter. Vanguard Group Inc. now owns 523,650 shares of the specialty pharmaceutical company’s stock worth $1,341,000 after buying an additional 68,544 shares during the last quarter. 14.29% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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