Evoke Pharma (EVOK) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research cut shares of Evoke Pharma (NASDAQ:EVOK) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

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 analysts also recently commented on the company. B. Riley reaffirmed a buy rating on shares of Evoke Pharma in a report on Wednesday. HC Wainwright set a $9.00 price objective on Evoke Pharma and gave the company a buy rating in a research note on Friday, August 17th. Finally, ValuEngine raised Evoke Pharma from a sell rating to a hold rating in a research note on Thursday, August 2nd.

EVOK traded down $0.12 during midday trading on Friday, hitting $2.42. 45,790 shares of the company were exchanged, compared to its average volume of 45,403. The company has a market capitalization of $46.18 million, a PE ratio of -2.92 and a beta of 1.66. Evoke Pharma has a 1-year low of $1.85 and a 1-year high of $3.40.

Evoke Pharma (NASDAQ:EVOK) last announced its earnings results on Tuesday, November 13th. The specialty pharmaceutical company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). Equities research analysts forecast that Evoke Pharma will post -0.48 EPS for the current fiscal year.

In other Evoke Pharma news, major shareholder Lvp Gp Iii, Llc acquired 500,000 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were bought at an average cost of $2.35 per share, with a total value of $1,175,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.94% of the stock is owned by insiders.

A hedge fund recently bought a new stake in Evoke Pharma stock. JPMorgan Chase & Co. acquired a new stake in Evoke Pharma Inc (NASDAQ:EVOK) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 37,323 shares of the specialty pharmaceutical company’s stock, valued at approximately $111,000. JPMorgan Chase & Co. owned 0.22% of Evoke Pharma at the end of the most recent reporting period. Institutional investors and hedge funds own 18.71% of the company’s stock.

About Evoke Pharma

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.

Further Reading: Cost of Equity For A Business, Investors

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