Market cap of Evoke Pharma Inc. [EVOK] reaches 30.42M – now what?

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Evoke Pharma Inc. [NASDAQ: EVOK] price surged by 118.50 percent to reach at $0.47. The company report on April 26, 2022 that Evoke Pharma Granted FDA Market Exclusivity for GIMOTI®.

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Evoke Pharma, Inc. (NASDAQ: EVOK), a specialty pharmaceutical company focused primarily on treatments for gastrointestinal (GI) diseases, today announced that it has been granted new drug product exclusivity by the U.S. Food and Drug Administration (FDA) for GIMOTI (metoclopramide) nasal spray. Evoke now has exclusive marketing rights over a period of three (3) years from the original date of approval under the Hatch-Waxman Act to protect the product from generic drug competition. Enacted by Congress in 1984, the Hatch-Waxman Amendments include provisions that involve patents and exclusivities related to new drug applications.

A sum of 214099057 shares traded at recent session while its average daily volume was at 104.28K shares. Evoke Pharma Inc. shares reached a high of $1.40 and dropped to a low of $0.8322 until finishing in the latest session at $0.86.

The one-year EVOK stock forecast points to a potential upside of 90.95. The average equity rating for EVOK stock is currently 2.00, trading closer to a bullish pattern in the stock market.

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

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for EVOK shares is $9.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on EVOK stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

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 0.11, with the Price to Sales ratio for EVOK stock in the period of the last 12 months amounting to 19.01. The Price to Book ratio for the last quarter was 7.82, with the Price to Cash per share for the same quarter was set at 0.26.

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 102.59. With this latest performance, EVOK shares gained by 69.03% in over the last four-week period, additionally sinking by -31.20% over the last 6 months – not to mention a drop of -50.57% 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 78.91, with the RSI for the last a single of trading hit 85.20, and the three-weeks RSI is set at 73.27 for Evoke Pharma Inc. [EVOK]. The present Moving Average for the last 50 days of trading for this stock 0.5209, while it was recorded at 0.5041 for the last single week of trading, and 0.8506 for the last 200 days.

Insight into Evoke Pharma Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Evoke Pharma Inc. [EVOK] shares currently have an operating margin of -503.79 and a Gross Margin at +79.72. Evoke Pharma Inc.’s Net Margin is presently recorded at -527.66.

Return on Equity for this stock declined to -5,015.38, with Return on Assets sitting at -85.35.

Evoke Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.40 and a Current Ratio set at 7.50.

EVOK Stock EPS

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 $1 million, or 6.30% of EVOK stock, in the hands of institutional investors. The top three institutional holders of EVOK stocks are: VANGUARD GROUP INC with ownership of 1,124,644, which is approximately 0% of the company’s market cap and around 3.03% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 210,102 shares of the stock with an approximate value of $83000.0 in EVOK stocks shares; and BLACKROCK INC., currently with $71000.0 in EVOK stock with ownership of nearly 2.718% of the company’s market capitalization.

10 institutional holders increased their position in Evoke Pharma Inc. [NASDAQ:EVOK] by around 115,367 shares. Additionally, 7 investors decreased positions by around 2,271,143 shares, while 10 investors held positions by with 337,771 shares. The mentioned changes placed institutional holdings at 2,048,739 shares, according to the latest SEC report filing. EVOK stock had 5 new institutional investments in for a total of 66,857 shares, while 3 institutional investors sold positions of 2,115,058 shares during the same period.