ValuEngine Downgrades Evoke Pharma (NASDAQ:EVOK) to Sell

Evoke Pharma (NASDAQ:EVOK) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Tuesday, ValuEngine reports.

EVOK has been the subject of several other research reports. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. HC Wainwright cut Hydrogenics from a “buy” rating to a “neutral” rating in a research note on Friday, June 28th.

Shares of Evoke Pharma stock traded up $0.01 during trading hours on Tuesday, hitting $0.88. 49,667 shares of the company were exchanged, compared to its average volume of 620,226. Evoke Pharma has a 1 year low of $0.50 and a 1 year high of $3.40. The firm has a 50-day simple moving average of $0.64. The firm has a market capitalization of $21.02 million, a PE ratio of -1.91 and a beta of 1.62.

Evoke Pharma (NASDAQ:EVOK) last released its quarterly earnings results on Wednesday, May 8th. The specialty pharmaceutical company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.04). On average, research analysts forecast that Evoke Pharma will post -0.41 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in Evoke Pharma in the first quarter worth $139,000. BlackRock Inc. raised its position in Evoke Pharma by 5.5% in the fourth quarter. BlackRock Inc. now owns 83,583 shares of the specialty pharmaceutical company’s stock worth $207,000 after acquiring an additional 4,392 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Evoke Pharma in the first quarter worth $118,000. Institutional investors and hedge funds own 7.40% of the company’s stock.

Evoke Pharma Company Profile

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development of drugs for the treatment of gastroenterological disorders and diseases. It is developing Gimoti, a metoclopramide nasal spray, which is completed Phase III clinical trials for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women.

Read More: Diluted Earnings Per Share

To view ValuEngine’s full report, visit ValuEngine’s official website.

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