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Evoke Pharma, Inc. Message Board

  • tvtman tvtman Jan 22, 2014 1:46 PM Flag

    Aegis Capital reaffirms its Buy rating and $60 price target on EVOK

    Aegis Capital reaffirms its Buy rating and $60 price target on Evoke Pharma (Nasdaq: EVOK) following a recent company update.

    Earlier on Wednesday's session, Evoke announced the publication of a study that found intranasal delivery of metoclopramide to be more effective in managing symptoms of diabetic gastroparesis compared to the marketed oral tablet formulation of metoclopramide.

    Aegis analyst Raghuram Selvaraju commented, In our view, the publication of the results from this trial underscores the differentiated profile of Evoke's lead drug candidate, EVK-001. We expect the pivotal trial of this agent, a ~200-patient, randomized, placebo-controlled study, to begin enrollment within the next four to five months. In our view, Evoke remains one of the most undervalued and underappreciated investment opportunities in the healthcare sector.

    Selvaraju sees Evoke's current enterprise valuation of $45 million as very cheap given the company could produce pivotal data in mid-2015, file for approval several months after, and come to market in late 2016. The analyst believes Evoke's intranasal metoclopramide formulation could generate over $400mm in peak annual sales.

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    • 60 and a 19 rating is a yr avg. of about 39. I'm expecting the 19 PT to be raised and other Analysts to begin coverage sometime this week. There's no reason whatsoever that Evoke shouldn't blast past their IPO price and head towards 20+ by weeks end.

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