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

Evotec (NASDAQ:EVO)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Wednesday, Benzinga reports. They currently have a $4.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 180.50% from the stock’s previous close.

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

Evotec Stock Up 6.0%

Shares of EVO traded up $0.08 during trading hours on Wednesday, reaching $1.43. The stock had a trading volume of 141,884 shares, compared to its average volume of 102,926. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.33 and a quick ratio of 2.21. Evotec has a 52 week low of $1.33 and a 52 week high of $4.27. The firm has a 50-day moving average of $1.78 and a 200 day moving average of $2.37.

Hedge Funds Weigh In On Evotec

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVO. Optiver Holding B.V. boosted its stake in Evotec by 598.4% in the 1st 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 period. WCM Investment Management LLC boosted its stake in Evotec by 12.1% in the 1st 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 period. Apollon Wealth Management LLC acquired a new position in Evotec in the 1st quarter worth $28,000. Finally, SmartHarvest Portfolios LLC acquired a new position in Evotec in the 1st quarter worth $44,000. 5.81% of the stock is 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.