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

Evoke Pharma, Inc. (NASDAQ:EVOK) was the recipient of a significant 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. Based on an average trading volume of 18,400 shares, the short-interest ratio is presently 1.7 days. Currently, 2.2% of the shares of the stock are sold short.

Evoke Pharma Stock Down 6.6 %

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

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

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Evoke Pharma in a report on Wednesday, March 12th. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Evoke Pharma

A hedge fund recently bought a new stake in Evoke Pharma stock. Corsair Capital Management L.P. acquired a new stake in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 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 as of its most recent filing with the Securities & Exchange Commission.

Evoke Pharma Company Profile

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.