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

Evotec (NASDAQ:EVO)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $4.00 target price on the stock. HC Wainwright’s target price would indicate a potential upside of 182.69% from the company’s previous close.

EVO has been the topic of a number of other reports. Weiss Ratings downgraded shares of Evotec from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 25th. Berenberg Bank downgraded shares of Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Finally, 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 report on Wednesday, July 15th. One investment 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.com, the company has an average rating of “Hold” and a consensus target price of $3.00.

Evotec Stock Up 5.2%

EVO traded up $0.07 on Wednesday, hitting $1.42. 118,190 shares of the company’s stock traded hands, compared to its average volume of 102,811. The company’s 50 day simple moving average is $1.78 and its 200-day simple moving average is $2.37. Evotec has a one year low of $1.33 and a one year high of $4.27. The company has a quick ratio of 2.21, a current ratio of 2.33 and a debt-to-equity ratio of 0.62.

Hedge Funds Weigh In On Evotec

Institutional investors and hedge funds have recently made changes to their positions in the business. WCM Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 67,917 shares during the last quarter. Optiver Holding B.V. raised its position in Evotec by 598.4% during the first quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares during the period. SmartHarvest Portfolios LLC bought a new stake in shares of Evotec in the 1st quarter valued at approximately $44,000. Finally, Apollon Wealth Management LLC bought a new stake in shares of Evotec in the 1st quarter valued at approximately $28,000. 5.81% of the stock is owned by hedge funds and other institutional investors.

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.