Evoke Pharma (NASDAQ:EVOK) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Evoke Pharma, Inc. (NASDAQ:EVOK) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.88 and traded as high as $11.00. Evoke Pharma shares last traded at $11.00, with a volume of 47,100 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EVOK. Wall Street Zen raised Evoke Pharma to a “hold” rating in a research report on Saturday, December 20th. Laidlaw downgraded shares of Evoke Pharma from a “buy” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Evoke Pharma in a report on Monday, December 15th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Evoke Pharma Stock Up 0.4%

The company has a market cap of $18.92 million, a PE ratio of -5.31 and a beta of -0.15. The firm has a 50 day simple moving average of $10.88 and a 200-day simple moving average of $7.02.

Evoke Pharma (NASDAQ:EVOK) last released its quarterly earnings results on Thursday, November 13th. The specialty pharmaceutical company reported ($0.45) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.45). The business had revenue of $4.28 million for the quarter, compared to analysts’ expectations of $4.33 million. Evoke Pharma had a negative net margin of 36.23% and a negative return on equity of 101.40%.

Insider Activity

In other news, major shareholder Roger M. Klein sold 9,000 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $10.65, for a total transaction of $95,850.00. Following the transaction, the insider directly owned 29,000 shares of the company’s stock, valued at approximately $308,850. This represents a 23.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.29% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Evoke Pharma stock. National Wealth Management Group LLC bought a new stake in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 80,130 shares of the specialty pharmaceutical company’s stock, valued at approximately $398,000. National Wealth Management Group LLC owned approximately 5.14% of Evoke Pharma at the end of the most recent reporting period.

Evoke Pharma Company Profile

Evoke Pharma, Inc is a clinical-stage specialty pharmaceutical company focused on developing novel therapies for gastrointestinal (GI) motility disorders. The company’s lead product candidate, relamorelin, is a selective ghrelin receptor agonist designed to restore gastric motility and accelerate gastric emptying in conditions such as diabetic gastroparesis. Relamorelin has been granted orphan drug designation by the U.S. Food and Drug Administration and has demonstrated proof-of-concept activity in multiple clinical trials, positioning it as a promising treatment for patients with impaired GI function.

In addition to relamorelin, Evoke Pharma is advancing earlier-stage programs targeting metabolic and GI conditions, leveraging its expertise in peptide chemistry and receptor pharmacology.