Evoke Pharma Inc (EVOK) is Downgraded by Rodman & Renshaw to Neutral, Price Target at $2

Evoke Pharma Inc (EVOK) was Downgraded by Rodman & Renshaw to ” Neutral” and the brokerage firm has set the Price Target at $2. Earlier the firm had a rating of “Buy ” on the company shares. Rodman & Renshaw advised their investors in a research report released on Jul 18, 2016.

On the company’s financial health, Evoke Pharma Inc reported $-0.45 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 11, 2016. Analyst had a consensus of $-0.40.

Evoke Pharma Inc opened for trading at $10.56 and hit $10.79 on the upside on Friday, eventually ending the session at $10.73, with a gain of 2.58% or 0.27 points. The heightened volatility saw the trading volume jump to 83,786 shares. Company has a market cap of $78 M.

Evoke Pharma Inc. is a specialty pharmaceutical company. The Company is focused primarily on the development of drugs to treat gastrointestinal (GI) disorders and diseases. The Company is developing EVK-001 a metoclopramide nasal spray for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women with diabetes mellitus. The Company’s lead product candidate EVK-001 is in late stage clinical testing. EVK-001 is a formulation of this drug designed to provide systemic delivery of metoclopramide through intranasal administration. Gastroparesis is a condition of delayed gastric emptying in the absence of mechanical obstruction. Gastroparesis results in food remaining in the stomach for a longer time than normal yielding a variety of symptoms.

Evoke Pharma Inc

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