Evoke Pharma Inc. (NASDAQ:EVOK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
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. “
EVOK has been the topic of a number of other research reports. Rodman & Renshaw reiterated a “buy” rating and set a $27.00 target price on shares of Evoke Pharma in a report on Monday, July 11th. Noble Financial cut Evoke Pharma from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. FBR & Co reissued an “outperform” rating and issued a $9.00 price target on shares of Evoke Pharma in a research report on Tuesday, August 16th. Brean Capital reissued a “buy” rating on shares of Evoke Pharma in a research report on Friday, July 8th. Finally, Northland Securities cut Evoke Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $9.88.
Shares of Evoke Pharma (NASDAQ:EVOK) traded down 1.05% during mid-day trading on Wednesday, hitting $1.88. The company had a trading volume of 68,178 shares. Evoke Pharma has a 52 week low of $1.52 and a 52 week high of $11.11. The firm has a 50-day moving average price of $2.01 and a 200-day moving average price of $4.11. The firm’s market capitalization is $23.22 million.
Evoke Pharma (NASDAQ:EVOK) last posted its earnings results on Monday, August 15th. The specialty pharmaceutical company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Equities analysts forecast that Evoke Pharma will post ($1.19) earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. State Treasurer State of Michigan purchased a new position in Evoke Pharma during the second quarter valued at $171,000. Vanguard Group Inc. raised its stake in Evoke Pharma by 5.0% in the second quarter. Vanguard Group Inc. now owns 62,381 shares of the specialty pharmaceutical company’s stock valued at $427,000 after buying an additional 2,947 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Evoke Pharma by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 23,679 shares of the specialty pharmaceutical company’s stock valued at $162,000 after buying an additional 464 shares during the period. 8.19% of the stock is currently owned by hedge funds and other institutional investors.
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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