Evotec (NASDAQ:EVO) Stock Rating Reaffirmed as "Buy" by HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Evotec and maintained a $4.00 price target, implying approximately 197% upside from the prior close.
• Analyst sentiment is mixed: Berenberg and TD Cowen downgraded the stock to “Hold,” while Weiss Ratings maintained a “Sell” view. The consensus rating is “Hold,” with an average target price of $3.00.
• Evotec shares opened at $1.35, near their 12-month low of $1.33 and below both the 50-day and 200-day moving averages. Institutional investors own 5.81% of the company.

Evotec (NASDAQ:EVO - Get Free Report)'s stock had its "buy" rating reissued by HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $4.00 price objective on the stock. HC Wainwright's price target would suggest a potential upside of 197.40% from the stock's previous close.

EVO has been the topic of a number of other reports. Berenberg Bank downgraded Evotec from a "buy" rating to a "hold" rating in a report on Thursday, July 16th. TD Cowen downgraded Evotec from a "buy" rating to a "hold" rating and set a $2.00 price objective on the stock. in a report on Wednesday, July 15th. Finally, Weiss Ratings downgraded Evotec from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, August 25th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $3.00.

Evotec Stock Down 1.8%

Shares of NASDAQ:EVO opened at $1.35 on Wednesday. The stock's 50-day moving average price is $1.78 and its two-hundred day moving average price is $2.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.33 and a quick ratio of 2.21. Evotec has a 12-month low of $1.33 and a 12-month high of $4.27.

Institutional Investors Weigh In On Evotec

Several large investors have recently made changes to their positions in EVO. Optiver Holding B.V. raised its holdings in shares of Evotec by 598.4% during the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company's stock valued at $709,000 after buying an additional 242,973 shares during the period. WCM Investment Management LLC raised its holdings in shares of Evotec by 12.1% during the 1st quarter. WCM Investment Management LLC now owns 627,260 shares of the company's stock valued at $1,480,000 after buying an additional 67,917 shares during the period. SmartHarvest Portfolios LLC purchased a new stake in shares of Evotec during the 1st quarter valued at about $44,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Evotec during the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 5.81% of the company's stock.

About Evotec

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.