Evoke Pharma, Inc. (NASDAQ:EVOK) Sees Significant Decrease in Short Interest

Evoke Pharma, Inc. (NASDAQ:EVOK) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 31,200 shares, a decline of 28.9% from the February 13th total of 43,900 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 18,400 shares, the short-interest ratio is presently 1.7 days.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Evoke Pharma in a report on Wednesday, March 12th. They issued a “sell” rating on the stock.

Evoke Pharma Price Performance

EVOK stock traded down $0.23 during midday trading on Tuesday, reaching $3.26. 26,188 shares of the company’s stock traded hands, compared to its average volume of 119,312. The company has a market capitalization of $4.87 million, a P/E ratio of -0.30 and a beta of 0.12. The business has a 50-day moving average price of $4.51 and a two-hundred day moving average price of $4.71. Evoke Pharma has a fifty-two week low of $3.13 and a fifty-two week high of $12.32.

Evoke Pharma (NASDAQ:EVOK) last announced its earnings results on Thursday, March 13th. The specialty pharmaceutical company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.24). The company had revenue of $3.31 million for the quarter, compared to analysts’ expectations of $3.08 million. Evoke Pharma had a negative net margin of 71.32% and a negative return on equity of 308.49%.

Institutional Investors Weigh In On Evoke Pharma

An institutional investor recently bought a new position in Evoke Pharma stock. Corsair Capital Management L.P. bought a new position in Evoke Pharma, Inc. (NASDAQ:EVOK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 11,667 shares of the specialty pharmaceutical company’s stock, valued at approximately $56,000. Corsair Capital Management L.P. owned approximately 1.42% of Evoke Pharma at the end of the most recent quarter.

About Evoke Pharma

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development and commercialization of drugs for the treatment of gastroenterological disorders and diseases. It offers Gimoti, a metoclopramide nasal spray to treat symptoms associated with acute and recurrent diabetic gastroparesis in adults.