Evoke Pharma (EVOK) Downgraded by Zacks Investment Research to “Sell”
Evoke Pharma (NASDAQ:EVOK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “
A number of other brokerages have also weighed in on EVOK. ValuEngine upgraded Evoke Pharma from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. B. Riley reiterated a “buy” rating on shares of Evoke Pharma in a report on Wednesday. Finally, HC Wainwright set a $9.00 price target on Evoke Pharma and gave the company a “buy” rating in a report on Friday, August 17th.
Evoke Pharma (NASDAQ:EVOK) last announced its earnings results on Tuesday, November 13th. The specialty pharmaceutical company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). Sell-side analysts predict that Evoke Pharma will post -0.48 EPS for the current year.
In other news, major shareholder Lvp Gp Iii, Llc purchased 500,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were acquired at an average price of $2.35 per share, for a total transaction of $1,175,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.94% of the stock is owned by company insiders.
An institutional investor recently bought a new position in Evoke Pharma stock. JPMorgan Chase & Co. purchased a new stake in Evoke Pharma Inc (NASDAQ:EVOK) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 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 as of its most recent SEC filing. 18.71% of the stock is owned by hedge funds and other institutional investors.
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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