Evoke Pharma (NASDAQ:EVOK) Sees Large Volume Increase

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Shares of Evoke Pharma Inc (NASDAQ:EVOK) saw unusually-strong trading volume on Thursday . Approximately 3,753,986 shares traded hands during mid-day trading, an increase of 549% from the previous session’s volume of 578,441 shares.The stock last traded at $0.57 and had previously closed at $0.53.

Several research analysts have recently weighed in on EVOK shares. Zacks Investment Research raised shares of Evoke Pharma from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Thursday, March 7th. B. Riley set a $5.00 price target on shares of Evoke Pharma and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, HC Wainwright reaffirmed a “hold” rating on shares of Evoke Pharma in a report on Tuesday, May 28th.

The business has a 50-day simple moving average of $0.62. The company has a market cap of $13.80 million, a P/E ratio of -1.24 and a beta of 1.73.

Evoke Pharma (NASDAQ:EVOK) last announced its earnings results on Wednesday, May 8th. The specialty pharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.04). As a group, equities analysts anticipate that Evoke Pharma Inc will post -0.41 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in Evoke Pharma in the first quarter worth $118,000. Marshall Wace LLP purchased a new position in Evoke Pharma in the first quarter worth $139,000. Finally, BlackRock Inc. grew its position in Evoke Pharma by 5.5% in the fourth quarter. BlackRock Inc. now owns 83,583 shares of the specialty pharmaceutical company’s stock worth $207,000 after acquiring an additional 4,392 shares in the last quarter. Institutional investors own 7.40% of the company’s stock.

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.

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