Evoke Pharma Inc (NASDAQ:EVOK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
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. “
A number of other equities research analysts also recently commented on EVOK. HC Wainwright set a $3.00 price objective on shares of Evoke Pharma and gave the company a “hold” rating in a research report on Sunday, December 25th. Rodman & Renshaw restated a “buy” rating and issued a $9.00 price objective (up previously from $6.00) on shares of Evoke Pharma in a research report on Thursday. FBR & Co restated a “positive” rating and issued a $9.00 price objective on shares of Evoke Pharma in a research report on Tuesday, January 31st. Ascendiant Capital Markets raised their price objective on shares of Evoke Pharma from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Laidlaw upgraded shares of Evoke Pharma from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Monday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $7.25.
Evoke Pharma (NASDAQ:EVOK) traded down 1.63% during midday trading on Monday, hitting $3.01. The stock had a trading volume of 204,050 shares. The stock has a 50-day moving average price of $3.01 and a 200 day moving average price of $2.22. The firm’s market cap is $37.17 million. Evoke Pharma has a 12-month low of $1.35 and a 12-month high of $11.11.
Evoke Pharma (NASDAQ:EVOK) last announced its quarterly earnings data on Wednesday, March 15th. The specialty pharmaceutical company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.07. During the same quarter last year, the company posted ($0.37) earnings per share. On average, equities analysts anticipate that Evoke Pharma will post ($0.67) earnings per share for the current fiscal year.
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In related news, Director Kenneth J. Widder purchased 450,000 shares of Evoke Pharma stock in a transaction dated Wednesday, February 22nd. The stock was bought at an average cost of $2.90 per share, for a total transaction of $1,305,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 30.50% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Evoke Pharma stock. State Treasurer State of Michigan increased its position in shares of Evoke Pharma Inc (NASDAQ:EVOK) by 460.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,000 shares of the specialty pharmaceutical company’s stock after buying an additional 115,000 shares during the period. State Treasurer State of Michigan owned 1.13% of Evoke Pharma worth $316,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 5.60% of the company’s stock.
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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