HC Wainwright Trims Evotec (NASDAQ:EVO) Target Price to $11.00

Evotec (NASDAQ:EVO) had its price objective reduced by HC Wainwright from $14.00 to $11.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 110.33% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Evotec from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada upgraded Evotec from a “sector perform” rating to an “outperform” rating in a report on Thursday, January 18th.

Evotec Stock Performance

EVO stock opened at $5.23 on Thursday. The business has a fifty day moving average of $7.38 and a 200-day moving average of $8.70. Evotec has a twelve month low of $5.00 and a twelve month high of $13.49.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EVO. Quadrant Capital Group LLC acquired a new position in Evotec in the fourth quarter valued at about $25,000. Optiver Holding B.V. grew its stake in Evotec by 643.1% in the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock valued at $945,000 after acquiring an additional 69,936 shares during the period. Finally, Mubadala Investment Co PJSC acquired a new position in shares of Evotec during the fourth quarter worth about $53,931,000. 5.81% of the stock is owned by institutional investors and hedge funds.

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 diabetes and complications, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women's health.