Evotec (NASDAQ:EVO) Trading Up 10.3% – Here’s Why

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

Analysts Set New Price Targets

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

Evotec Stock Performance

The firm’s 50 day moving average price is $3.58 and its 200-day moving average price is $4.20. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Evotec

Several institutional investors have recently modified their holdings of EVO. Vanguard Personalized Indexing Management LLC bought a new position in Evotec in the second quarter valued at about $87,000. Cetera Advisors LLC purchased a new position in shares of Evotec during the 1st quarter worth $188,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec in the 3rd quarter worth $104,000. DCF Advisers LLC raised its holdings in Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares during the period. Finally, Mediolanum International Funds Ltd purchased a new stake in Evotec in the third quarter worth about $512,000. 5.81% of the stock is owned by hedge funds and other institutional investors.

About Evotec

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.