Evoke Pharma (EVOK) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Evoke Pharma (NASDAQ:EVOK) from a sell rating to a hold rating in a report released on Tuesday.

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 analysts have also commented on EVOK. Northland Securities reissued a buy rating and issued a $10.00 price objective on shares of Evoke Pharma in a report on Wednesday, October 18th. FBR & Co reissued a buy rating and issued a $10.00 price objective on shares of Evoke Pharma in a report on Thursday, October 19th. HC Wainwright reissued a buy rating and issued a $9.00 price objective on shares of Evoke Pharma in a report on Tuesday, October 24th. B. Riley reissued a buy rating and issued a $10.00 price objective on shares of Evoke Pharma in a report on Wednesday, November 15th. Finally, ValuEngine lowered Evoke Pharma from a sell rating to a strong sell rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $9.14.

Shares of Evoke Pharma (NASDAQ:EVOK) opened at $2.40 on Tuesday. Evoke Pharma has a 1-year low of $2.19 and a 1-year high of $4.55. The company has a market capitalization of $36.99, a P/E ratio of -2.55 and a beta of 1.26.

Evoke Pharma (NASDAQ:EVOK) last issued its quarterly earnings data on Tuesday, November 14th. The specialty pharmaceutical company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.13). During the same quarter in the prior year, the business earned ($0.29) earnings per share. research analysts anticipate that Evoke Pharma will post -1 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 68,544 shares in the last quarter. Sphera Funds Management LTD. lifted its position in shares of Evoke Pharma by 14.2% in the third quarter. Sphera Funds Management LTD. now owns 571,022 shares of the specialty pharmaceutical company’s stock valued at $1,907,000 after acquiring an additional 71,022 shares in the last quarter. Finally, Creative Planning purchased a new position in shares of Evoke Pharma in the fourth quarter valued at approximately $226,000. Institutional investors and hedge funds own 14.29% of the company’s stock.

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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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