Evoke Pharma (EVOK) Cut to “Sell” at Zacks Investment Research

Evoke Pharma (NASDAQ:EVOK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors 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. “

Several other equities research analysts have also recently commented on the stock. B. Riley reiterated a “buy” rating on shares of Evoke Pharma in a research report on Wednesday. HC Wainwright set a $9.00 price target on shares of Evoke Pharma and gave the stock a “buy” rating in a research report on Friday, August 17th. Finally, ValuEngine upgraded shares of Evoke Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd.

EVOK traded down $0.12 during midday trading on Friday, hitting $2.42. The company had a trading volume of 45,700 shares, compared to its average volume of 83,989. The stock has a market capitalization of $46.30 million, a PE ratio of -2.92 and a beta of 1.66. Evoke Pharma has a twelve month low of $1.85 and a twelve month high of $3.40.

Evoke Pharma (NASDAQ:EVOK) last posted its quarterly earnings data on Tuesday, November 13th. The specialty pharmaceutical company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). On average, sell-side analysts expect that Evoke Pharma will post -0.45 EPS for the current fiscal year.

In other Evoke Pharma news, major shareholder Lvp Gp Iii, Llc purchased 500,000 shares of the stock in a transaction dated Monday, August 20th. The stock was bought at an average price of $2.35 per share, for a total transaction of $1,175,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.94% of the stock is owned by insiders.

An institutional investor recently bought a new position in Evoke Pharma stock. JPMorgan Chase & Co. acquired a new position in shares of Evoke Pharma Inc (NASDAQ:EVOK) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 37,323 shares of the specialty pharmaceutical company’s stock, valued at approximately $111,000. JPMorgan Chase & Co. owned about 0.22% of Evoke Pharma at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.71% of the company’s stock.

Evoke Pharma Company Profile

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development of drugs for the treatment of gastroenterological disorders and diseases. It is developing Gimoti, a metoclopramide nasal spray, which is in Phase 2b clinical trials for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women.

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