Market Analysts see Evoke Pharma Inc. [EVOK] gaining to $10. Time to buy?

Evoke Pharma Inc. [NASDAQ: EVOK] price surged by 37.81 percent to reach at $1.21. The company report on January 20, 2021 that Evoke Pharma Announces Closing of Public Offering of Common Stock and Full Exercise of Underwriter’s Option to Purchase Additional Shares.

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Evoke Pharma, Inc. (Nasdaq: EVOK), a specialty pharmaceutical company focused on treatments for gastrointestinal (GI) disorders and diseases, announced the completion of its follow-on offering of 5,750,000 shares of its common stock, including 750,000 shares of common stock sold pursuant to the underwriter’s full exercise of its option to purchase additional shares, at a price to the public of $2.50 per share. The gross proceeds from the offering were approximately $14.4 million, before underwriting discounts and commissions and estimated offering costs.

Evoke intends to use the net proceeds from the offering for working capital and general corporate purposes, including funding commercialization activities, research and development activities, clinical trial expenditures, and possible acquisition of new technologies or products.

A sum of 9935264 shares traded at recent session while its average daily volume was at 389.56K shares. Evoke Pharma Inc. shares reached a high of $4.80 and dropped to a low of $3.28 until finishing in the latest session at $4.41.

Guru’s Opinion on Evoke Pharma Inc. [EVOK]:

H.C. Wainwright have made an estimate for Evoke Pharma Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 22, 2020. The new note on the price target was released on March 05, 2019, representing the official price target for Evoke Pharma Inc. stock. Previously, the target price had yet another drop from $10 to $5, while B. Riley FBR Inc. kept a Buy rating on EVOK stock.

The Average True Range (ATR) for Evoke Pharma Inc. is set at 0.33

EVOK Stock Performance Analysis:

Evoke Pharma Inc. [EVOK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 66.42. With this latest performance, EVOK shares gained by 71.60% in over the last four-week period, additionally sinking by -9.45% over the last 6 months – not to mention a rise of 206.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EVOK stock in for the last two-week period is set at 81.90, with the RSI for the last a single of trading hit 89.44, and the three-weeks RSI is set at 74.70 for Evoke Pharma Inc. [EVOK]. The present Moving Average for the last 50 days of trading for this stock 2.87, while it was recorded at 3.30 for the last single week of trading, and 3.44 for the last 200 days.

Insight into Evoke Pharma Inc. Fundamentals:

Return on Total Capital for EVOK is now -167.47, given the latest momentum, and Return on Invested Capital for the company is -169.54. Return on Equity for this stock declined to -169.54, with Return on Assets sitting at -118.22. When it comes to the capital structure of this company, Evoke Pharma Inc. [EVOK] has a Total Debt to Total Equity ratio set at 3.16. Additionally, EVOK Total Debt to Total Capital is recorded at 3.07, with Total Debt to Total Assets ending up at 2.17.

Reflecting on the efficiency of the workforce at the company, Evoke Pharma Inc. [EVOK] managed to generate an average of -$1,425,131 per employee.Evoke Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.

EVOK Stock EPS

With the latest financial reports released by the company, Evoke Pharma Inc. posted -0.06/share EPS, while the average EPS was predicted by analysts to be reported at -0.06/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for EVOK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Evoke Pharma Inc. go to 40.00%.

Evoke Pharma Inc. [EVOK] Insider Position Details

There are presently around $8 million, or 12.60% of EVOK stock, in the hands of institutional investors. The top three institutional holders of EVOK stocks are: VANGUARD GROUP INC with ownership of 1,033,707, which is approximately 57.355% of the company’s market cap and around 2.20% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 154,039 shares of the stock with an approximate value of $0.68 million in EVOK stocks shares; and BLACKROCK INC., currently with $0.61 million in EVOK stock with ownership of nearly 8.73% of the company’s market capitalization.

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Positions in Evoke Pharma Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 15 institutional holders increased their position in Evoke Pharma Inc. [NASDAQ:EVOK] by around 650,016 shares. Additionally, 6 investors decreased positions by around 79,272 shares, while 9 investors held positions by with 1,171,807 shares. The mentioned changes placed institutional holdings at 1,901,095 shares, according to the latest SEC report filing. EVOK stock had 10 new institutional investments in for a total of 161,191 shares, while 3 institutional investors sold positions of 43,020 shares during the same period.

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