Evoke Pharma, Inc. (NASDAQ:EVOK) Short Interest Down 32.7% in March

Evoke Pharma, Inc. (NASDAQ:EVOK) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 21,000 shares, a decrease of 32.7% from the February 28th total of 31,200 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average daily volume of 21,900 shares, the days-to-cover ratio is currently 1.0 days.

Evoke Pharma Price Performance

Shares of NASDAQ:EVOK opened at $2.79 on Friday. Evoke Pharma has a 12-month low of $2.50 and a 12-month high of $12.32. The business has a 50 day moving average of $4.25 and a 200-day moving average of $4.63. The stock has a market cap of $4.17 million, a PE ratio of -0.25 and a beta of 0.12.

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

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Evoke Pharma in a report on Friday. They set a “sell” rating for the company.

Institutional Trading of Evoke Pharma

An institutional investor recently raised its position in Evoke Pharma stock. Nantahala Capital Management LLC lifted its holdings in shares of Evoke Pharma, Inc. (NASDAQ:EVOK) by 163.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,194 shares of the specialty pharmaceutical company’s stock after purchasing an additional 91,945 shares during the quarter. Nantahala Capital Management LLC owned 9.95% of Evoke Pharma worth $655,000 as of its most recent SEC filing.

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.