Evoke Pharma Inc. (EVOK) Lifted to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Evoke Pharma Inc. (NASDAQ:EVOK) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $2.50 target price 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. “
Several other research firms also recently commented on EVOK. Brean Capital downgraded Evoke Pharma from a buy rating to a hold rating in a research note on Monday, July 18th. Rodman & Renshaw downgraded Evoke Pharma from a buy rating to a neutral rating and set a $2.00 price objective on the stock. in a research note on Monday, July 18th. FBR & Co reiterated a buy rating on shares of Evoke Pharma in a research note on Friday, July 8th. Feltl & Co. downgraded Evoke Pharma from a strong-buy rating to a sell rating in a research note on Monday, July 18th. Finally, Northland Securities downgraded Evoke Pharma from an outperform rating to a market perform rating in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Evoke Pharma currently has an average rating of Hold and a consensus price target of $9.88.
Shares of Evoke Pharma (NASDAQ:EVOK) opened at 2.09 on Wednesday. The firm’s market cap is $25.81 million. The firm has a 50 day moving average price of $2.03 and a 200-day moving average price of $4.24. Evoke Pharma has a one year low of $1.52 and a one year high of $11.11.
Evoke Pharma (NASDAQ:EVOK) last posted its quarterly earnings data on Monday, August 15th. The specialty pharmaceutical company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.02. Analysts forecast that Evoke Pharma will post ($1.19) earnings per share for the current year.
A number of large investors have recently modified their holdings of EVOK. State Treasurer State of Michigan acquired a new stake in shares of Evoke Pharma during the second quarter worth about $171,000. Vanguard Group Inc. boosted its position in Evoke Pharma by 5.0% in the second quarter. Vanguard Group Inc. now owns 62,381 shares of the specialty pharmaceutical company’s stock valued at $427,000 after buying an additional 2,947 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Evoke Pharma by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 23,679 shares of the specialty pharmaceutical company’s stock valued at $162,000 after buying an additional 464 shares during the last quarter. 8.19% of the stock is currently owned by institutional investors and hedge funds.
About Evoke Pharma
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Evoke Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Evoke Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.