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Actionable news in EVOK: Evoke Pharma, Inc.,

Evoke Pharma: Hop On And Ride The Elevator Higher

Summary

Evoke Pharma (NASDAQ: EVOK) shares fell to a 52-week low of $1.52 after a phase 3 trial of EVK-001 in gastroparesis in women failed to meet its primary end-point.

The study results were unexpected and seems to be an anomaly. The company announced that FDA has accepted the suggested brand name for the formulation. Institutions accumulated shares at lows.

We consider the shares under-valued despite recent run-up, and are initiating coverage on Evoke Pharma with Buy rating and common share price...


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