Evoke Pharma Down 2.16% To $0.66 After Earnings Miss

Evoke Pharma (EVOK) said after close Thursday that it lost $0.59 per share in quarter four 2023.

On the revenue line, the company reported $1.7 million, beating estimates by $46 thousand.

In the same quarter a year ago, the company lost $0.54 per share on revenue of $796 thousand.

The stock is down 2.16% to $0.66 after the report.

Evoke Pharma's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Evoke Pharma has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 2, putting Evoke Pharma in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $0.56 on January 29, 2024 and set a 52-week high on March 16, 2023 at $3.5.

Evoke Pharma Inc is a specialty pharmaceutical company focused on the development of drugs to treat gastrointestinal, or GI, disorders, and diseases. The company's product Gimoti is an investigational metoclopramide nasal spray for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women. Gimoti is a novel nasal spray formulation of metoclopramide designed to provide systemic delivery of the molecule through the nasal mucosa.