Zacks Investment Research lowered shares of Evoke Pharma (NASDAQ:EVOK) from a buy rating to a hold rating in a research report report published on Friday morning.
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. “
Several other equities analysts have also issued reports on EVOK. B. Riley restated a buy rating and set a $5.00 target price (down from $10.00) on shares of Evoke Pharma in a research report on Thursday. HC Wainwright set a $9.00 target price on Evoke Pharma and gave the stock a buy rating in a research report on Wednesday, November 29th. Finally, ValuEngine lowered Evoke Pharma from a sell rating to a strong sell rating in a research report on Friday, December 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Evoke Pharma presently has an average rating of Buy and a consensus target price of $7.66.
Evoke Pharma (NASDAQ:EVOK) last posted its earnings results on Wednesday, March 7th. The specialty pharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.21. sell-side analysts anticipate that Evoke Pharma will post 0.11 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in EVOK. Vanguard Group Inc. lifted its holdings in shares of Evoke Pharma by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 523,650 shares of the specialty pharmaceutical company’s stock valued at $1,341,000 after purchasing an additional 68,544 shares in the last quarter. Sphera Funds Management LTD. lifted its holdings in shares of Evoke Pharma by 14.2% during the 3rd quarter. Sphera Funds Management LTD. now owns 571,022 shares of the specialty pharmaceutical company’s stock valued at $1,907,000 after purchasing an additional 71,022 shares in the last quarter. Creative Planning bought a new position in shares of Evoke Pharma during the 4th quarter valued at about $226,000. B. Riley Financial Inc. bought a new position in shares of Evoke Pharma during the 4th quarter valued at about $249,000. Finally, Deutsche Bank AG bought a new position in shares of Evoke Pharma during the 4th quarter valued at about $452,000. Institutional investors and hedge funds own 18.71% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This report was originally reported by Ticker Report and is owned by of Ticker Report. If you are reading this report on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3253418/evoke-pharma-evok-downgraded-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Evoke Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evoke Pharma and related companies with MarketBeat.com's FREE daily email newsletter.