Zacks Investment Research downgraded shares of Evoke Pharma (NASDAQ:EVOK) from a strong-buy rating to a hold rating in a report issued on Wednesday, reports.

According to Zacks, “Evoke Pharma, Inc. is a specialty pharmaceutical company focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. The Company’s lead product candidate, EVK-001, is in late stage clinical testing which is intended for the treatment of diabetic gastroparesis. Evoke Pharma, Inc. is based in San Diego, California. “

Several other research analysts have also weighed in on EVOK. ValuEngine upgraded Evoke Pharma from a sell rating to a hold rating in a report on Thursday, August 1st. HC Wainwright reiterated a hold rating on shares of Evoke Pharma in a report on Friday, August 9th.

Shares of EVOK opened at $0.80 on Wednesday. The company has a market cap of $18.78 million, a P/E ratio of -1.74 and a beta of 1.57. The stock has a fifty day moving average price of $0.92 and a 200 day moving average price of $0.84. Evoke Pharma has a 12 month low of $0.50 and a 12 month high of $3.26.

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 consensus estimate of ($0.12) by $0.03. Equities analysts predict that Evoke Pharma will post -0.35 EPS for the current year.

A hedge fund recently bought a new stake in Evoke Pharma stock. Citadel Advisors LLC acquired a new position in shares of Evoke Pharma Inc (NASDAQ:EVOK) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 59,047 shares of the specialty pharmaceutical company’s stock, valued at approximately $37,000. Citadel Advisors LLC owned about 0.25% of Evoke Pharma as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 5.50% of the company’s stock.

About Evoke Pharma

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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