Evotec (NASDAQ:EVO) Shares Up 10.3% – What’s Next?

Evotec SE (NASDAQ:EVO) shares rose 10.3% during mid-day trading on Thursday . The stock traded as high as $5.02 and last traded at $5.02. Approximately 143,767 shares traded hands during trading, an increase of 21% from the average daily volume of 118,717 shares. The stock had previously closed at $4.55.

Analyst Upgrades and Downgrades

EVO has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of Evotec in a report on Thursday, November 7th. Morgan Stanley downgraded Evotec from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $15.00 to $6.00 in a report on Monday, July 29th. Finally, Jefferies Financial Group cut Evotec from a “buy” rating to a “hold” rating and reduced their price objective for the company from $8.70 to $3.80 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Price Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09. The firm has a 50-day moving average of $3.66 and a 200-day moving average of $4.20.

Hedge Funds Weigh In On Evotec

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Novo Holdings A S bought a new position in Evotec during the second quarter valued at approximately $71,183,000. Wellington Management Group LLP lifted its stake in shares of Evotec by 29.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after purchasing an additional 602,858 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Evotec in the 3rd quarter valued at approximately $512,000. DCF Advisers LLC lifted its stake in shares of Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after purchasing an additional 67,156 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new stake in shares of Evotec in the 3rd quarter valued at approximately $104,000. 5.81% of the stock is 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.