HC Wainwright Reaffirms Buy Rating for Evotec (NASDAQ:EVO)

Evotec (NASDAQ:EVO)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They presently have a $4.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 173.97% from the company’s current price.

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

Evotec Trading Up 8.6%

Shares of EVO traded up $0.12 during mid-day trading on Wednesday, reaching $1.46. The company had a trading volume of 42,093 shares, compared to its average volume of 102,408. The company has a quick ratio of 2.21, a current ratio of 2.33 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average of $1.78 and a two-hundred day moving average of $2.37. Evotec has a 52-week low of $1.33 and a 52-week high of $4.27.

Institutional Investors Weigh In On Evotec

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

Evotec Company Profile

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.