Zacks Investment Research upgraded shares of Evoke Pharma Inc. (NASDAQ:EVOK) from a hold rating to a buy rating in a report released on Wednesday morning. The firm currently has $2.50 price target on the specialty pharmaceutical company’s stock.
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. “
Several other research analysts have also recently commented on EVOK. Brean Capital reaffirmed a buy rating on shares of Evoke Pharma in a report on Friday, July 8th. FBR & Co reaffirmed a buy rating on shares of Evoke Pharma in a report on Friday, July 8th. Rodman & Renshaw reaffirmed a buy rating and set a $27.00 target price on shares of Evoke Pharma in a report on Monday, July 11th. Feltl & Co. cut shares of Evoke Pharma from a strong-buy rating to a sell rating in a research note on Monday, July 18th. Finally, Northland Securities cut shares of Evoke Pharma from an outperform rating to a market perform rating in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Evoke Pharma has a consensus rating of Hold and an average price target of $9.88.
Evoke Pharma (NASDAQ:EVOK) traded up 0.45% during midday trading on Wednesday, hitting $2.21. The stock had a trading volume of 102,900 shares. The company’s market cap is $27.29 million. Evoke Pharma has a 1-year low of $1.52 and a 1-year high of $11.11. The company’s 50 day moving average is $2.03 and its 200 day moving average is $4.29.
Evoke Pharma (NASDAQ:EVOK) last announced its earnings results on Monday, August 15th. The specialty pharmaceutical company reported ($0.41) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. On average, equities analysts anticipate that Evoke Pharma will post ($1.19) earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Evoke Pharma by 5.0% in the second quarter. Vanguard Group Inc. now owns 62,381 shares of the specialty pharmaceutical company’s stock worth $427,000 after buying an additional 2,947 shares during the last quarter. State Treasurer State of Michigan bought a new stake in Evoke Pharma during the second quarter worth $171,000. Finally, Bank of New York Mellon Corp boosted its stake in 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 worth $162,000 after buying an additional 464 shares during the last quarter. 8.19% of the stock is currently owned by hedge funds and other institutional investors.
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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