StockNews.com Initiates Coverage on Evoke Pharma (NASDAQ:EVOK)

Equities researchers at StockNews.com assumed coverage on shares of Evoke Pharma (NASDAQ:EVOK) in a research report issued to clients and investors on Monday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

Evoke Pharma Stock Performance

NASDAQ:EVOK opened at $2.15 on Monday. The business’s fifty day moving average price is $3.43 and its 200 day moving average price is $4.35. The firm has a market capitalization of $3.21 million, a price-to-earnings ratio of -0.20 and a beta of 0.30. Evoke Pharma has a 1-year low of $1.94 and a 1-year high of $12.32.

Evoke Pharma (NASDAQ:EVOK) last issued its earnings results on Thursday, March 13th. The specialty pharmaceutical company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.24). The business had revenue of $3.31 million during the quarter, compared to analyst estimates of $3.08 million. Evoke Pharma had a negative net margin of 71.32% and a negative return on equity of 308.49%.

Institutional Trading of Evoke Pharma

A hedge fund recently raised its stake in Evoke Pharma stock. Nantahala Capital Management LLC grew its position in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,194 shares of the specialty pharmaceutical company’s stock after buying an additional 91,945 shares during the quarter. Nantahala Capital Management LLC owned approximately 9.95% of Evoke Pharma worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Evoke Pharma

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development and commercialization of drugs for the treatment of gastroenterological disorders and diseases. It offers Gimoti, a metoclopramide nasal spray to treat symptoms associated with acute and recurrent diabetic gastroparesis in adults.