Evoke Pharma (NASDAQ:EVOK) Share Price Passes Below 200 Day Moving Average – What’s Next?

Evoke Pharma, Inc. (NASDAQ:EVOK)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.62 and traded as low as $2.70. Evoke Pharma shares last traded at $2.71, with a volume of 25,028 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Evoke Pharma in a research note on Thursday, May 15th. They issued a “sell” rating for the company.

Evoke Pharma Stock Performance

The company’s fifty day moving average price is $3.06 and its two-hundred day moving average price is $3.62. The firm has a market capitalization of $4.03 million, a PE ratio of -0.94 and a beta of -0.04.

Evoke Pharma (NASDAQ:EVOK) last issued its quarterly earnings results on Monday, May 12th. The specialty pharmaceutical company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.18). The company had revenue of $3.08 million for the quarter, compared to analyst estimates of $3.32 million. Evoke Pharma had a negative return on equity of 101.91% and a negative net margin of 43.80%.

Institutional Trading of Evoke Pharma

A hedge fund recently raised its stake in Evoke Pharma stock. Nantahala Capital Management LLC boosted its position in Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,194 shares of the specialty pharmaceutical company’s stock after acquiring an additional 91,945 shares during the quarter. Nantahala Capital Management LLC owned 9.95% of Evoke Pharma worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

About Evoke Pharma

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development and commercialization of drugs for the treatment of gastroenterological disorders and diseases. It offers Gimoti, a metoclopramide nasal spray to treat symptoms associated with acute and recurrent diabetic gastroparesis in adults.