Evoke Pharma (NASDAQ:EVOK) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Evoke Pharma, Inc. (NASDAQ:EVOK) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.86 and traded as low as $4.81. Evoke Pharma shares last traded at $4.91, with a volume of 2,493 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Evoke Pharma in a research note on Saturday. They issued a “sell” rating on the stock.

Evoke Pharma Stock Up 1.1 %

The firm has a market capitalization of $7.31 million, a price-to-earnings ratio of -0.45 and a beta of 0.16. The company has a fifty day moving average price of $4.54 and a two-hundred day moving average price of $4.86.

Evoke Pharma (NASDAQ:EVOK) last announced its earnings results on Thursday, November 7th. The specialty pharmaceutical company reported ($0.94) earnings per share for the quarter. The company had revenue of $2.65 million during the quarter. 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

A hedge fund recently bought a new stake in Evoke Pharma stock. Corsair Capital Management L.P. purchased a new stake in Evoke Pharma, Inc. (NASDAQ:EVOK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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 reporting period.

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.