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

Evoke Pharma (NASDAQ:EVOK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $1.00 price target on the specialty pharmaceutical company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 17.65% from the stock’s current price.

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 analysts have also recently weighed in on EVOK. HC Wainwright reiterated a “hold” rating on shares of Evoke Pharma in a research report on Friday, August 9th. ValuEngine upgraded Evoke Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

Shares of NASDAQ EVOK traded up $0.03 during mid-day trading on Tuesday, hitting $0.85. The company had a trading volume of 25,186 shares, compared to its average volume of 587,770. The company has a market capitalization of $19.07 million, a price-to-earnings ratio of -1.85 and a beta of 1.57. Evoke Pharma has a 1 year low of $0.50 and a 1 year high of $3.26. The stock’s 50-day moving average price is $0.89 and its 200-day moving average price is $0.80.

Evoke Pharma (NASDAQ:EVOK) last announced its quarterly earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. As a group, research analysts forecast that Evoke Pharma will post -0.35 earnings per share for the current 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 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 and Exchange Commission (SEC). Hedge funds and other institutional investors 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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