Evoke Pharma Inc (EVOK) Downgraded by Zacks Investment Research

Evoke Pharma Inc (NASDAQ:EVOK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

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. HC Wainwright set a $9.00 target price on Evoke Pharma and gave the company a “buy” rating in a report on Tuesday. ValuEngine raised Evoke Pharma from a “strong sell” rating to a “sell” rating in a report on Friday, July 7th. Finally, FBR & Co reaffirmed a “buy” rating and issued a $9.00 target price on shares of Evoke Pharma in a report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.25.

Evoke Pharma (NASDAQ:EVOK) remained flat at $2.58 during trading on Thursday. The company had a trading volume of 72,518 shares. The stock’s 50-day moving average is $2.44 and its 200-day moving average is $2.72. The company’s market capitalization is $39.70 million. Evoke Pharma has a 1-year low of $1.35 and a 1-year high of $4.55.

Evoke Pharma (NASDAQ:EVOK) last released its earnings results 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 in the previous year, the business earned ($0.41) earnings per share. Equities analysts anticipate that Evoke Pharma will post ($0.86) EPS for the current fiscal year.

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Several hedge funds have recently made changes to their positions in EVOK. State Treasurer State of Michigan raised its stake in shares of Evoke Pharma by 62.2% in the first quarter. State Treasurer State of Michigan now owns 291,966 shares of the specialty pharmaceutical company’s stock valued at $905,000 after buying an additional 111,966 shares during the last quarter. Sphera Funds Management LTD. purchased a new stake in shares of Evoke Pharma during the first quarter valued at $1,550,000. Finally, Vanguard Group Inc. raised its stake in shares of Evoke Pharma by 15.1% in the second quarter. Vanguard Group Inc. now owns 523,650 shares of the specialty pharmaceutical company’s stock valued at $1,341,000 after buying an additional 68,544 shares during the last quarter. 12.37% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Evoke Pharma (NASDAQ:EVOK)

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