What Do The World’s Greatest Investors Think of These Hot Biotech Stocks?

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Follow Evoke Pharma Inc (NASDAQ:EVOK)

Shares of Evoke Pharma Inc (NASDAQ:EVOK) are up after HC Wainwright initiated coverage with a ‘Buy’ rating and a $27 price target. Evoke Pharma initially surged on September 15 after the company announced its Phase 3 clinical trial design for EVK-001 “aligns with the US Food and Drug Administration’s recommendations”. We’re not quite sure why that is positive news and we would stay on the sidelines on this one.

Hedge funds were not that interested in Evoke Pharma during the second quarter, as only 3 funds held positions worth a cumulative $1.71 million at the end of June. Of the three, James A. Silverman‘s Opaleye Management is the largest shareholder with a stake of 259,100 shares. Jim Simons’ Renaissance Technologies has a stake of 13,000 shares as well.

Disclosure: None

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