Evoke Pharma’s (EVOK) “Buy” Rating Reiterated at HC Wainwright

Evoke Pharma, Inc. (NASDAQ:EVOK)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Tuesday. They presently have a $9.00 target price on the specialty pharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 247.49% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. FBR & Co reiterated a “buy” rating and issued a $9.00 target price on shares of Evoke Pharma in a research report on Thursday, May 18th. ValuEngine upgraded shares of Evoke Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.25.

Shares of Evoke Pharma (NASDAQ:EVOK) traded up 0.39% during trading on Tuesday, hitting $2.59. 16,601 shares of the company’s stock were exchanged. The company’s market cap is $39.85 million. Evoke Pharma has a 12-month low of $1.35 and a 12-month high of $4.55. The company has a 50-day moving average of $2.44 and a 200-day moving average of $2.72.

Evoke Pharma (NASDAQ:EVOK) last issued its earnings results on Monday, August 14th. The specialty pharmaceutical company reported ($0.27) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.15. During the same quarter last year, the business posted ($0.41) EPS. On average, equities analysts expect that Evoke Pharma will post ($0.86) earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Sphera Funds Management LTD. purchased a new stake in Evoke Pharma during the first quarter valued at about $1,550,000. State Treasurer State of Michigan boosted its stake in 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. Finally, 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 valued at $1,341,000 after buying an additional 68,544 shares during the last quarter. Hedge funds and other institutional investors own 12.37% 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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