Evoke Pharma (NASDAQ:EVOK) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Evoke Pharma (NASDAQ:EVOK) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $1.00 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. “

A number of other brokerages have also recently issued reports on EVOK. ValuEngine raised Evoke Pharma from a sell rating to a hold rating in a report on Thursday, August 1st. HC Wainwright reissued a hold rating on shares of Evoke Pharma in a report on Friday, August 9th.

Shares of NASDAQ EVOK traded down $0.01 during midday trading on Tuesday, reaching $0.84. 45,331 shares of the company traded hands, compared to its average volume of 105,498. The firm has a market cap of $19.69 million, a PE ratio of -1.83 and a beta of 1.57. The stock’s 50-day simple moving average is $0.91 and its 200-day simple moving average is $0.81. Evoke Pharma has a 12 month low of $0.50 and a 12 month high of $3.26.

Evoke Pharma (NASDAQ:EVOK) last issued its quarterly earnings data on Thursday, August 8th. The specialty pharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.03. Equities analysts expect that Evoke Pharma will post -0.35 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Evoke Pharma stock. Citadel Advisors LLC acquired a new stake in shares of Evoke Pharma Inc (NASDAQ:EVOK) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 59,047 shares of the specialty pharmaceutical company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned 0.25% of Evoke Pharma as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 5.50% 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 completed Phase III clinical trials for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women.

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