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

Analysts at StockNews.com initiated coverage on shares of Evoke Pharma (NASDAQ:EVOK) in a report issued on Sunday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

Evoke Pharma Stock Performance

Evoke Pharma stock opened at $2.21 on Friday. The stock has a market capitalization of $3.30 million, a P/E ratio of -0.20 and a beta of 0.30. The company’s fifty day moving average price is $3.65 and its 200 day moving average price is $4.42. Evoke Pharma has a 1 year low of $2.01 and a 1 year high of $12.32.

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

Hedge Funds Weigh In On Evoke Pharma

An institutional investor recently raised its position in Evoke Pharma stock. Nantahala Capital Management LLC raised its position in Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 148,194 shares of the specialty pharmaceutical company’s stock after purchasing an additional 91,945 shares during the period. Nantahala Capital Management LLC owned 9.95% of Evoke Pharma worth $655,000 at the end of the most recent quarter.

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.