Is Evoke Pharma, Inc. overvalued or undervalued?

As of 10 November 2021, Evoke Pharma, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently considered overvalued based on its financial metrics. Key ratios include a Price to Book Value of 0.75, an EV to EBIT of 0.63, and an ROCE of 290.76%. However, the company is loss-making, reflected in its negative P/E ratio and negative EV to Sales of -0.27.
In comparison to peers, Evoke Pharma's valuation is less favorable than SeqLL, Inc. which has a P/E of -1.5744 and Hoth Therapeutics, Inc. with a P/E of -1.7844. The significant decline in stock performance, with a year-to-date return of -43.44% compared to a 2.44% return for the S&P 500, further supports the conclusion that the stock is overvalued at its current price of $2.50.