Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Time to Buy?

Shares of Evotec SE (NASDAQ:EVO) saw unusually-high trading volume on Thursday . Approximately 348,849 shares were traded during mid-day trading, an increase of 209% from the previous session’s volume of 112,926 shares.The stock last traded at $4.22 and had previously closed at $3.87.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EVO shares. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Evotec in a report on Thursday. Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Morgan Stanley cut Evotec from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $15.00 to $6.00 in a research note on Monday, July 29th. Finally, Jefferies Financial Group cut Evotec from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.70 to $3.80 in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.93.

Evotec Trading Down 2.8 %

The company has a quick ratio of 1.73, a current ratio of 1.83 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $3.51 and a two-hundred day moving average of $4.23.

Institutional Trading of Evotec

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new position in Evotec in the second quarter worth $87,000. Clear Harbor Asset Management LLC bought a new stake in Evotec in the third quarter valued at about $104,000. Cetera Advisors LLC bought a new stake in Evotec in the first quarter valued at about $188,000. Mediolanum International Funds Ltd bought a new stake in Evotec in the third quarter valued at about $512,000. Finally, DCF Advisers LLC increased its holdings in shares of Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after acquiring an additional 67,156 shares in the last quarter. 5.81% of the stock is currently owned by institutional investors.

Evotec Company Profile

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women’s health.