Evoke Pharma (NASDAQ:EVOK) Share Price Passes Below 50 Day Moving Average of $0.93

Shares of Evoke Pharma Inc (NASDAQ:EVOK) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.93 and traded as low as $0.97. Evoke Pharma shares last traded at $1.00, with a volume of 817,116 shares changing hands.

EVOK has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Evoke Pharma from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a research report on Tuesday, August 13th. ValuEngine upgraded shares of Evoke Pharma from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, HC Wainwright reaffirmed a “hold” rating on shares of Evoke Pharma in a research note on Friday, August 9th.

The company has a market capitalization of $24.48 million, a price-to-earnings ratio of -2.15 and a beta of 1.63. The stock’s fifty day moving average price is $0.93 and its 200-day moving average price is $0.92.

Evoke Pharma (NASDAQ:EVOK) last issued its earnings results on Thursday, August 8th. The specialty pharmaceutical company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.03. Equities research analysts predict that Evoke Pharma Inc will post -0.35 EPS for the current fiscal year.

An institutional investor recently bought a new position in Evoke Pharma stock. Citadel Advisors LLC bought a new position in shares of Evoke Pharma Inc (NASDAQ:EVOK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 59,047 shares of the specialty pharmaceutical company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned approximately 0.25% of Evoke Pharma at the end of the most recent quarter. 5.50% of the stock is owned by institutional investors and hedge funds.

Evoke Pharma Company Profile (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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