In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Hold rating on Evoke Pharma (EVOK). The company’s shares closed on Friday at $0.57, close to its 52-week low of $0.53.
Selvaraju observed:
“We remind investors that Evoke had previously received a Complete Response Letter (CRL) from the FDA on the New Drug Application (NDA) for Gimoti. Since the FDA did not request any additional clinical trials and, furthermore, cited no safety issues with the drug, there may still be some hope for Gimoti to be resubmitted to the agency and eventually approved. Evoke plans to start manufacturing registration batches of Gimoti this quarter through its partner, not rated), a global contract development and manufacturing organization. This should place Evoke in a position to provide FDA with additional acceptance criteria support for the proposed droplet size distribution and other pump performance characteristics of the nasal sprayer.”
According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -3.0% and a 29.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.
Evoke Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $5.
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The company has a one-year high of $3.40 and a one-year low of $0.53. Currently, Evoke Pharma has an average volume of 1.02M.
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Evoke Pharma, Inc. is a pharmaceutical company, which engages in the development of drugs for the treatment of gastrointestinal disorders and diseases. It develops Gimoti, with promotility and anti-emetic effects, for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women with diabetes mellitus.
