Evoke Pharma, Inc. (EVOK) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Evoke Pharma, Inc. (NASDAQ:EVOK) from a hold rating to a sell rating in a research report report published on Thursday morning.
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 brokerages also recently issued reports on EVOK. ValuEngine downgraded shares of Evoke Pharma from a hold rating to a sell rating in a report on Friday, July 28th. FBR & Co reiterated a buy rating and issued a $9.00 price target on shares of Evoke Pharma in a report on Thursday, May 18th. Finally, HC Wainwright reiterated a buy rating and issued a $9.00 price target on shares of Evoke Pharma in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $7.25.
Shares of Evoke Pharma (EVOK) opened at 2.59 on Thursday. The stock’s 50 day moving average is $2.44 and its 200-day moving average is $2.72. The stock’s market cap is $39.85 million. Evoke Pharma has a 1-year low of $1.35 and a 1-year high of $4.55.
Evoke Pharma (NASDAQ:EVOK) last announced its quarterly earnings results on Monday, August 14th. The specialty pharmaceutical company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.15. During the same quarter last year, the firm posted ($0.41) EPS. On average, analysts predict that Evoke Pharma will post ($0.86) EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased 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 worth $1,341,000 after buying an additional 68,544 shares in the last quarter. Sphera Funds Management LTD. bought a new position in shares of Evoke Pharma during the first quarter worth about $1,550,000. Finally, State Treasurer State of Michigan increased its position in Evoke Pharma by 37.0% in the second quarter. State Treasurer State of Michigan now owns 400,000 shares of the specialty pharmaceutical company’s stock valued at $1,024,000 after buying an additional 108,034 shares during the period. Institutional investors and hedge funds own 12.37% 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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