Evoke Pharma (NASDAQ:EVOK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

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. “

EVOK has been the topic of a number of other research reports. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Evoke Pharma in a research note on Tuesday, October 24th. B. Riley reiterated a “buy” rating and issued a $10.00 price target on shares of Evoke Pharma in a research note on Wednesday, November 15th. Northland Securities reiterated a “buy” rating and issued a $10.00 price target on shares of Evoke Pharma in a research note on Wednesday, October 18th. FBR & Co reiterated a “buy” rating and issued a $10.00 price target on shares of Evoke Pharma in a research note on Thursday, October 19th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $10.00 price target on shares of Evoke Pharma in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Evoke Pharma currently has an average rating of “Buy” and an average price target of $9.14.

Shares of Evoke Pharma (EVOK) traded down $0.05 during trading on Wednesday, reaching $2.68. 191,396 shares of the company were exchanged, compared to its average volume of 74,574. The company has a market cap of $41.31, a PE ratio of -2.85 and a beta of 1.09. Evoke Pharma has a 52 week low of $2.19 and a 52 week high of $4.55.

Evoke Pharma (NASDAQ:EVOK) last announced its quarterly earnings results on Tuesday, November 14th. The specialty pharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.13). During the same period in the prior year, the company posted ($0.29) EPS. sell-side analysts forecast that Evoke Pharma will post -1 EPS for the current year.

A number of large investors have recently modified their holdings of EVOK. Vanguard Group Inc. raised its position in Evoke Pharma by 15.1% in the 2nd 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 during the last quarter. Sphera Funds Management LTD. raised its position in Evoke Pharma by 14.2% in the 3rd quarter. Sphera Funds Management LTD. now owns 571,022 shares of the specialty pharmaceutical company’s stock worth $1,907,000 after buying an additional 71,022 shares during the last quarter. Finally, Creative Planning purchased a new position in Evoke Pharma in the 4th quarter worth about $226,000. 14.29% of the stock is owned by institutional investors and hedge funds.

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About Evoke Pharma

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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