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

Equities research analysts at StockNews.com initiated coverage on shares of Evoke Pharma (NASDAQ:EVOK) in a note issued to investors on Saturday. The firm set a “sell” rating on the specialty pharmaceutical company’s stock.

Evoke Pharma Stock Performance

Shares of NASDAQ:EVOK opened at $2.25 on Friday. The firm has a market cap of $3.36 million, a price-to-earnings ratio of -0.20 and a beta of 0.30. The business has a 50-day simple moving average of $4.05 and a two-hundred day simple moving average of $4.57. Evoke Pharma has a fifty-two week low of $2.19 and a fifty-two week high of $12.32.

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

Hedge Funds Weigh In On Evoke Pharma

An institutional investor recently raised its position in Evoke Pharma stock. Nantahala Capital Management LLC boosted its position in Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 about 9.95% of Evoke Pharma worth $655,000 as of its most recent SEC filing.

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.