Evoke Pharma Inc. (EVOK) Sees Strong Trading Volume
Evoke Pharma Inc. (NASDAQ:EVOK) saw an uptick in trading volume on Monday . 99,761 shares were traded during mid-day trading, an increase of 18% from the previous session’s volume of 84,787 shares.The stock last traded at $8.66 and had previously closed at $8.38.
Several brokerages have issued reports on EVOK. FBR & Co reissued a “buy” rating on shares of Evoke Pharma in a research report on Saturday, May 14th. Zacks Investment Research raised Evoke Pharma from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Tuesday, May 3rd. Rodman & Renshaw reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Evoke Pharma in a research note on Monday. Brean Capital reaffirmed a “buy” rating on shares of Evoke Pharma in a research note on Thursday, May 12th. Finally, Northland Securities began coverage on Evoke Pharma in a research note on Wednesday, March 16th. They issued an “outperform” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Evoke Pharma presently has an average rating of “Buy” and an average price target of $17.47.
The stock’s 50 day moving average is $6.16 and its 200 day moving average is $4.62. The firm’s market cap is $69.65 million.
Evoke Pharma (NASDAQ:EVOK) last announced its earnings results on Wednesday, May 11th. The specialty pharmaceutical company reported ($0.45) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by $0.04. On average, analysts forecast that Evoke Pharma Inc. will post ($1.37) earnings per share for the current fiscal year.
In other news, major shareholder Parters Vii L. P. Domain sold 344,120 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $4.70, for a total value of $1,617,364.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Parters Vii L. P. Domain sold 41,478 shares of the stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $5.35, for a total value of $221,907.30. The disclosure for this sale can be found here.
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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