Evoke Pharma Inc. (EVOK) Forecasted to Post FY2016 Earnings of ($1.27) Per Share
Evoke Pharma Inc. (NASDAQ:EVOK) – Research analysts at FBR & Co boosted their FY2016 earnings estimates for shares of Evoke Pharma in a note issued to investors on Tuesday. FBR & Co analyst V. Bernardino now anticipates that the firm will post earnings of ($1.27) per share for the year, up from their previous estimate of ($1.70). FBR & Co currently has a “Outperform” rating and a $9.00 target price on the stock. FBR & Co also issued estimates for Evoke Pharma’s Q4 2016 earnings at ($0.22) EPS and FY2017 earnings at ($0.69) EPS.
Evoke Pharma (NASDAQ:EVOK) last announced its earnings results on Wednesday, November 9th. The specialty pharmaceutical company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by $0.03. During the same period in the prior year, the business posted ($0.42) EPS.
EVOK has been the subject of several other reports. Zacks Investment Research raised Evoke Pharma from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a report on Wednesday, October 5th. Noble Financial reissued a “hold” rating on shares of Evoke Pharma in a report on Tuesday, August 16th. Finally, HC Wainwright set a $2.50 price objective on Evoke Pharma and gave the stock a “hold” rating in a report on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Evoke Pharma has an average rating of “Hold” and an average price target of $9.88.
Evoke Pharma (NASDAQ:EVOK) opened at 1.78 on Thursday. Evoke Pharma has a one year low of $1.35 and a one year high of $11.11. The firm has a 50 day moving average of $1.83 and a 200 day moving average of $3.57. The firm’s market capitalization is $21.98 million.
Several institutional investors have recently modified their holdings of EVOK. Bank of New York Mellon Corp raised its position in shares of Evoke Pharma by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 23,679 shares of the specialty pharmaceutical company’s stock valued at $162,000 after buying an additional 464 shares in the last quarter. State Treasurer State of Michigan acquired a new position in shares of Evoke Pharma during the second quarter valued at about $171,000. Finally, Vanguard Group Inc. raised its position in shares of Evoke Pharma by 5.0% in the second quarter. Vanguard Group Inc. now owns 62,381 shares of the specialty pharmaceutical company’s stock valued at $427,000 after buying an additional 2,947 shares in the last quarter. Institutional investors and hedge funds own 9.15% 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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