Evotec (NASDAQ:EVO) Shares Gap Up – Time to Buy?

Evotec AG (NASDAQ:EVO)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.42, but opened at $3.72. Evotec shares last traded at $3.7410, with a volume of 50,692 shares trading hands.

Wall Street Analyst Weigh In

EVO has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Evotec from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. Finally, Berenberg Bank began coverage on Evotec in a research report on Tuesday. They issued a “buy” rating for the company. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $7.00.

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.12 and a quick ratio of 2.03. The stock has a 50 day simple moving average of $3.31 and a 200 day simple moving average of $3.55.

Institutional Investors Weigh In On Evotec

Institutional investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC purchased a new position in shares of Evotec in the second quarter valued at about $43,000. BNP Paribas Financial Markets grew its stake in shares of Evotec by 62.2% in the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after purchasing an additional 4,600 shares during the last quarter. Bank of America Corp DE increased its holdings in Evotec by 262.5% during the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after purchasing an additional 9,289 shares during the period. Thrivent Financial for Lutherans bought a new position in Evotec during the 3rd quarter valued at approximately $53,000. Finally, XTX Topco Ltd bought a new position in Evotec during the 2nd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

Evotec Company Profile

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.