Short Interest Coverage: Will Evoke Pharma Incorporated (NASDAQ:EVOK) Run Out of Steam Soon? Short Interest Is Down

January 11, 2017 - By Pete Kolinski   ·   0 Comments

Short Interest Coverage: Will Evoke Pharma Incorporated (NASDAQ:EVOK) Run Out of Steam Soon? Short Interest Is Down

The stock of Evoke Pharma Incorporated (NASDAQ:EVOK) registered a decrease of 5.83% in short interest. EVOK’s total short interest was 1.10M shares in January as published by FINRA. Its down 5.83% from 1.16M shares, reported previously. With 187,300 shares average volume, it will take short sellers 6 days to cover their EVOK’s short positions. The short interest to Evoke Pharma Incorporated’s float is 12.43%. About 772,839 shares traded hands. Evoke Pharma Inc (NASDAQ:EVOK) has declined 52.08% since June 7, 2016 and is downtrending. It has underperformed by 59.50% the S&P500.

Evoke Pharma, Inc. is a specialty pharmaceutical company. The company has a market cap of $28.53 million. The Firm is focused primarily on the development of drugs to treat gastrointestinal disorders and diseases. It currently has negative earnings. The Firm is developing EVK-001, a metoclopramide nasal spray for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women.

Insitutional Activity: The institutional sentiment decreased to 1.33 in 2016 Q3. Its down 1.34, from 2.67 in 2016Q2. The ratio turned negative, as 5 funds sold all Evoke Pharma Inc shares owned while 1 reduced positions. 3 funds bought stakes while 5 increased positions. They now own 632,086 shares or 37.35% less from 1.01 million shares in 2016Q2.
Commonwealth Equity Serv has invested 0% of its portfolio in Evoke Pharma Inc (NASDAQ:EVOK). Retail Bank Of America De last reported 1,875 shares in the company. Blackrock Mngmt Ltd Liability accumulated 0% or 1,285 shares. California Employees Retirement accumulated 36,700 shares or 0% of the stock. Renaissance Techs Ltd Liability has invested 0% of its portfolio in Evoke Pharma Inc (NASDAQ:EVOK). Geode Capital Mngmt Limited Liability Company last reported 15,864 shares in the company. Morgan Stanley, a New York-based fund reported 500 shares. State Treasurer State Of Michigan has 0% invested in the company for 140,000 shares. Vanguard Gru holds 213,332 shares or 0% of its portfolio. Sabby Mngmt Limited Company last reported 63,768 shares in the company. Blackrock Fund Advsrs last reported 26,700 shares in the company.

Evoke Pharma Inc (NASDAQ:EVOK) Ratings Coverage

Out of 6 analysts covering Evoke Pharma (NASDAQ:EVOK), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. Evoke Pharma has been the topic of 11 analyst reports since August 20, 2015 according to StockzIntelligence Inc. The company was downgraded on Monday, July 18 by Brean Capital. The rating was downgraded by Noble Financial on Tuesday, July 19 to “Hold”. The firm has “Outperform” rating given on Wednesday, March 16 by Northland Capital. The stock has “Buy” rating given by Rodman & Renshaw on Thursday, January 5. Brean Capital initiated the stock with “Buy” rating in Thursday, August 20 report. Rodman & Renshaw initiated it with “Buy” rating and $27 target price in Friday, October 2 report. The company was maintained on Monday, March 14 by Ascendiant Capital. The firm earned “Neutral” rating on Monday, July 18 by Rodman & Renshaw. The stock has “Buy” rating given by H.C. Wainwright on Thursday, October 1. The stock of Evoke Pharma Inc (NASDAQ:EVOK) has “Neutral” rating given on Friday, December 23 by Rodman & Renshaw.

EVOK Company Profile

Evoke Pharma, Inc., incorporated on January 29, 2007, is a specialty pharmaceutical company. The Firm is focused primarily on the development of drugs to treat gastrointestinal (GI) disorders and diseases. The Firm is developing EVK-001, a metoclopramide nasal spray for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women. EVK-001 is a formulation of Metoclopramide drug, designed to provide systemic delivery of metoclopramide through intranasal administration.

More notable recent Evoke Pharma Inc (NASDAQ:EVOK) news were published by: Globenewswire.com which released: “Evoke Pharma to Attend 2017 JPMorgan Healthcare Conference” on January 09, 2017, also Streetinsider.com with their article: “Evoke Pharma (EVOK) Announces Positive Guidance from FDA on Gimoti pre-NDA” published on December 15, 2016, Marketwatch.com published: “Evoke Pharma stock drops 76% after drug’s late-stage topline results miss …” on July 18, 2016. More interesting news about Evoke Pharma Inc (NASDAQ:EVOK) were released by: Seekingalpha.com and their article: “Evoke Pharma: Hop On And Ride The Elevator Higher” published on July 31, 2016 as well as 247Wallst.com‘s news article titled: “Is the FDA Changing Its Tune on Evoke Pharma?” with publication date: September 07, 2016.

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By Pete Kolinski

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