Evoke Pharma (EVOK) Hits New 52-Week Low After Earnings Miss

Evoke Pharma (EVOK) Hits New 52-Week Low After Earnings Miss

Shares of Evoke Pharma Inc (NASDAQ:EVOK) reached a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $0.66 and last traded at $0.69, with a volume of 2179 shares trading hands. The stock had previously closed at $0.72.

The specialty pharmaceutical company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.04).

Several brokerages have weighed in on EVOK. Zacks Investment Research downgraded shares of Evoke Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday. B. Riley set a $5.00 target price on shares of Evoke Pharma and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, HC Wainwright downgraded shares of Evoke Pharma from a “buy” rating to a “neutral” rating and set a $1.33 target price for the company. in a research note on Tuesday, March 5th.

A number of institutional investors and hedge funds have recently made changes to their positions in EVOK. Acadian Asset Management LLC acquired a new stake in Evoke Pharma in the first quarter valued at approximately $63,000. Wambolt & Associates LLC acquired a new stake in shares of Evoke Pharma during the fourth quarter worth $82,000. JPMorgan Chase & Co. acquired a new stake in shares of Evoke Pharma during the third quarter worth $111,000. Virtu Financial LLC acquired a new stake in shares of Evoke Pharma during the first quarter worth $118,000. Finally, BlackRock Inc. lifted its stake in shares of Evoke Pharma by 5.5% during the fourth quarter. BlackRock Inc. now owns 83,583 shares of the specialty pharmaceutical company’s stock worth $207,000 after buying an additional 4,392 shares during the period. Institutional investors own 18.76% of the company’s stock.

The company has a market capitalization of $12.55 million, a P/E ratio of -1.50 and a beta of 1.71.

About Evoke Pharma (NASDAQ:EVOK)

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.

Featured Article: Closed-End Mutual Funds

Related posts

Leave a Comment