Evotec’s (EVO) “Buy” Rating Reiterated at HC Wainwright

Evotec (NASDAQ:EVO)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $4.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 197.40% from the stock’s previous close.

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

Evotec Trading Down 1.8%

EVO stock opened at $1.35 on Wednesday. Evotec has a one year low of $1.33 and a one year high of $4.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.21 and a current ratio of 2.33. The firm’s fifty day moving average is $1.78 and its 200 day moving average is $2.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Apollon Wealth Management LLC purchased a new stake in shares of Evotec in the first quarter valued at approximately $28,000. SmartHarvest Portfolios LLC acquired a new position in Evotec during the first quarter worth $44,000. Optiver Holding B.V. boosted its stake in Evotec by 598.4% during the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock worth $709,000 after buying an additional 242,973 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings in Evotec by 12.1% in the 1st quarter. WCM Investment Management LLC now owns 627,260 shares of the company’s stock valued at $1,480,000 after buying an additional 67,917 shares in the last quarter. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.