Zacks Investment Research cut shares of Evoke Pharma (NASDAQ:EVOK) from a buy rating to a hold rating in a report published on Friday.
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 subject of several other reports. HC Wainwright restated a buy rating and issued a $9.00 price target on shares of Evoke Pharma in a research note on Tuesday, March 6th. B. Riley restated a buy rating and issued a $10.00 price target on shares of Evoke Pharma in a research note on Wednesday, November 15th. Finally, ValuEngine downgraded Evoke Pharma from a sell rating to a strong sell rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Evoke Pharma has an average rating of Buy and an average price target of $7.66.
Evoke Pharma (NASDAQ:EVOK) last released its quarterly earnings results on Wednesday, March 7th. The specialty pharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.21. equities analysts forecast that Evoke Pharma will post 0.09 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Evoke Pharma by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 523,650 shares of the specialty pharmaceutical company’s stock valued at $1,341,000 after acquiring an additional 68,544 shares during the period. Sphera Funds Management LTD. lifted its position in shares of Evoke Pharma by 14.2% during the 3rd quarter. Sphera Funds Management LTD. now owns 571,022 shares of the specialty pharmaceutical company’s stock valued at $1,907,000 after acquiring an additional 71,022 shares during the period. Creative Planning bought a new stake in shares of Evoke Pharma during the 4th quarter valued at $226,000. B. Riley Financial Inc. bought a new stake in shares of Evoke Pharma during the 4th quarter valued at $249,000. Finally, 683 Capital Management LLC bought a new stake in shares of Evoke Pharma during the 4th quarter valued at $258,000. Hedge funds and other institutional investors own 18.71% 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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