Evoke Pharma, Inc. (EVOK) Downgraded by ValuEngine to “Sell”
ValuEngine downgraded shares of Evoke Pharma, Inc. (NASDAQ:EVOK) from a hold rating to a sell rating in a research note released on Friday morning.
A number of other research firms have also recently commented on EVOK. HC Wainwright reiterated a buy rating and set a $9.00 price objective on shares of Evoke Pharma in a research report on Tuesday, August 15th. FBR & Co reiterated a buy rating and set a $9.00 price objective on shares of Evoke Pharma in a research report on Thursday, May 18th. Finally, Zacks Investment Research cut Evoke Pharma from a hold rating to a sell rating in a research report on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $7.25.
Shares of Evoke Pharma (NASDAQ:EVOK) traded up 3.17% on Friday, hitting $2.60. 30,689 shares of the stock traded hands. Evoke Pharma has a 12 month low of $1.35 and a 12 month high of $4.55. The firm’s 50 day moving average is $2.43 and its 200-day moving average is $2.70. The company’s market cap is $40.01 million.
Evoke Pharma (NASDAQ:EVOK) last announced its quarterly earnings results on Monday, August 14th. The specialty pharmaceutical company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.15. During the same quarter last year, the firm posted ($0.41) earnings per share. Equities analysts predict that Evoke Pharma will post ($0.88) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Evoke Pharma by 15.1% in 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 in the last quarter. Sphera Funds Management LTD. bought a new stake in Evoke Pharma during the first quarter worth approximately $1,550,000. Finally, State Treasurer State of Michigan boosted its stake in Evoke Pharma by 37.0% in the second quarter. State Treasurer State of Michigan now owns 400,000 shares of the specialty pharmaceutical company’s stock worth $1,024,000 after buying an additional 108,034 shares in the last quarter. Hedge funds and other institutional investors own 12.88% of the company’s stock.
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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