Evotec AG (NASDAQ:EVO) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Evotec has a consensus “Hold” rating from five brokerages: two rate it “Buy,” two “Hold,” and one “Sell.” The average 12-month price target is $3.00.
• Recent analyst actions were mixed but generally cautious, including downgrades from Berenberg and TD Cowen, while HC Wainwright maintained a “Buy” rating after cutting its target to $4.00.
• Evotec shares opened at $2.00, near their 52-week low of $1.90, while hedge funds and other institutional investors own approximately 5.81% of the company.

Evotec AG (NASDAQ:EVO - Get Free Report) has been assigned an average recommendation of "Hold" from the five research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $3.00.

A number of brokerages have issued reports on EVO. Wall Street Zen downgraded Evotec from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Berenberg Bank lowered Evotec from a "buy" rating to a "hold" rating in a research report on Thursday, July 16th. TD Cowen lowered shares of Evotec from a "buy" rating to a "hold" rating and set a $2.00 price target for the company. in a report on Wednesday, July 15th. HC Wainwright decreased their price objective on shares of Evotec from $7.00 to $4.00 and set a "buy" rating on the stock in a report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Evotec in a research report on Tuesday, July 21st.

Evotec Stock Up 2.6%

NASDAQ:EVO opened at $2.00 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.60 and a current ratio of 1.68. Evotec has a 52 week low of $1.90 and a 52 week high of $4.27. The stock's 50-day moving average price is $2.46 and its 200-day moving average price is $2.86.

Institutional Investors Weigh In On Evotec

Large investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in shares of Evotec by 262.5% in the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company's stock valued at $53,000 after acquiring an additional 9,289 shares in the last quarter. XTX Topco Ltd acquired a new position in Evotec in the 2nd quarter valued at $66,000. Marshall Wace LLP purchased a new position in Evotec in the 2nd quarter valued at $169,000. BNP Paribas Financial Markets boosted its stake in Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company's stock worth $50,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Snowden Capital Advisors LLC purchased a new stake in shares of Evotec during the second quarter worth $122,000. 5.81% of the stock is currently owned by hedge funds and other institutional investors.

Evotec Company Profile

Evotec SE NASDAQ: EVO is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec's service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source