Evotec (NASDAQ:EVO) Stock Keeps Buy Rating at HC Wainwright

Evotec (NASDAQ:EVO)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report issued on Wednesday, Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 189.86% from the stock’s current price.

EVO has been the topic of several other reports. Berenberg Bank cut Evotec from a “buy” rating to a “hold” rating in a research report on Thursday, July 16th. TD Cowen cut Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a research report on Wednesday, July 15th. Finally, Weiss Ratings cut Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.00.

Evotec Trading Down 2.8%

Shares of EVO traded down $0.04 during midday trading on Wednesday, hitting $1.38. 82,403 shares of the company traded hands, compared to its average volume of 103,041. The stock has a 50-day moving average of $1.75 and a 200-day moving average of $2.36. Evotec has a one year low of $1.33 and a one year high of $4.27. The company has a current ratio of 2.33, a quick ratio of 2.21 and a debt-to-equity ratio of 0.62.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EVO. Apollon Wealth Management LLC bought a new position in shares of Evotec in the first quarter worth approximately $28,000. SmartHarvest Portfolios LLC bought a new position in shares of Evotec in the first quarter worth approximately $44,000. Optiver Holding B.V. increased its position in shares of Evotec by 598.4% in the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after purchasing an additional 242,973 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in shares of Evotec by 12.1% in the first quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock worth $1,480,000 after purchasing an additional 67,917 shares during the last quarter. 5.81% of the stock is currently owned by institutional investors.

About Evotec

Evotec SE is a life sciences company headquartered in Hamburg, Germany, that provides drug discovery and development services to pharmaceutical, biotechnology and academic partners. Founded in 1993, the company supports programs from early-stage research through preclinical and clinical development, with expertise in small-molecule and biologic therapies.

Its activities include target identification and validation, screening, medicinal chemistry, pharmacology, drug manufacturing support and development services.