Evoke (LON:EVOK) Trading 13% Higher After Analyst Upgrade

Shares of Evoke plc (LON:EVOK) rose 13% during mid-day trading on Tuesday after Berenberg Bank raised their price target on the stock from GBX 90 to GBX 95. Berenberg Bank currently has a buy rating on the stock. Evoke traded as high as GBX 70.30 ($0.95) and last traded at GBX 69.50 ($0.94). Approximately 5,723,622 shares traded hands during trading, an increase of 175% from the average daily volume of 2,082,184 shares. The stock had previously closed at GBX 61.50 ($0.83).

Separately, JPMorgan Chase & Co. boosted their price target on Evoke from GBX 77 ($1.04) to GBX 80 ($1.08) and gave the stock a “neutral” rating in a report on Thursday, July 10th.

Insiders Place Their Bets

In other news, insider Per Widerström purchased 68,958 shares of the stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of GBX 54 ($0.73) per share, with a total value of £37,237.32 ($50,341.11). Also, insider Sean Wilkins purchased 31,659 shares of the stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of GBX 54 ($0.73) per share, with a total value of £17,095.86 ($23,111.88). In the last ninety days, insiders bought 202,269 shares of company stock valued at $10,515,918. Company insiders own 27.00% of the company’s stock.

Evoke Stock Up 13.0%

The stock has a 50 day simple moving average of GBX 58.67 and a 200 day simple moving average of GBX 60.04. The company has a market cap of £309.96 million, a price-to-earnings ratio of -1.74 and a beta of 0.84.

About Evoke