Evoke Pharma (NASDAQ:EVOK) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Evoke Pharma (NASDAQ:EVOK) from a sell rating to a hold rating in a report released on Thursday morning, ValuEngine reports.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Evoke Pharma from a sell rating to a hold rating in a research report on Tuesday. HC Wainwright restated a hold rating on shares of Evoke Pharma in a research report on Friday, June 28th.

Evoke Pharma stock traded down $0.02 during mid-day trading on Thursday, hitting $0.90. The company had a trading volume of 236,095 shares, compared to its average volume of 1,779,490. Evoke Pharma has a 12-month low of $0.50 and a 12-month high of $3.40. The firm’s fifty day moving average is $0.82. The stock has a market cap of $20.94 million, a P/E ratio of -1.96 and a beta of 1.61.

Evoke Pharma (NASDAQ:EVOK) last released its quarterly earnings data on Wednesday, May 8th. The specialty pharmaceutical company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.04). On average, sell-side analysts forecast that Evoke Pharma will post -0.41 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Evoke Pharma by 5.5% during the 4th quarter. BlackRock Inc. now owns 83,583 shares of the specialty pharmaceutical company’s stock worth $207,000 after acquiring an additional 4,392 shares during the period. Virtu Financial LLC bought a new stake in Evoke Pharma during the 1st quarter worth approximately $118,000. Finally, Marshall Wace LLP bought a new stake in Evoke Pharma during the 1st quarter worth approximately $139,000. 7.40% of the stock is owned by institutional investors and hedge funds.

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 completed Phase III clinical trials for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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