Evoke Pharma Inc (EVOK) reported quarterly earnings results on Monday, Aug-15-2016. The company said it had a profit of $-0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.43.
Many Wall Street Analysts have commented on Evoke Pharma Inc. Evoke Pharma Inc was Downgraded by Noble Financial to ” Hold” on Jul 19, 2016. Shares were Reiterated by FBR Capital on Jul 19, 2016 to “Outperform” and Lowered the Price Target to $ 9 from a previous price target of $17 .Rodman & Renshaw Downgraded Evoke Pharma Inc on Jul 18, 2016 to ” Neutral”, Price Target of the shares are set at $2.
Evoke Pharma Inc opened for trading at $2.21 and hit $2.44 on the upside on Friday, eventually ending the session at $2.34, with a gain of 4.93% or 0.11 points. The heightened volatility saw the trading volume jump to 10,17,459 shares. Company has a market cap of $17 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 Companys 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.