Cantor Fitzgerald Starts Evoke Pharma (EVOK) at Buy

November 4, 2013 7:33 AM EST
Get Alerts EVOK Hot Sheet
Price: $2.39 +1.27%

Rating Summary:
    6 Buy, 2 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 32 | New: 34
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Cantor Fitzgerald initiates coverage on Evoke Pharma (NASDAQ: EVOK) with a Buy. PT $19.00.

Analyst Irina Rivkind comments, "Evoke is developing an intranasal form of metoclopramide (EVK-001) for the treatment of diabetic gastroparesis in women. We believe that the program is relatively low risk given data in this patient population from a recent Phase II trial, coupled with the well-characterized nature of metoclopramide. We also like the large commercial opportunity since there were over 3.6M metoclopramide prescriptions written in the last 12 months and there are approximately 2 million patients already taking metoclopramide. We think peak sales for EVK-001 should most likely approach $230M by 2023 (seven years after 2016 launch). We believe the company is adequately capitalized through its Phase III data in mid-2015 and, if results are positive, we believe that Evoke could get acquired."

For an analyst ratings summary and ratings history on Evoke Pharma click here. For more ratings news on Evoke Pharma click here.

Shares of Evoke Pharma closed at $11.51 yesterday.

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