Evotec (NASDAQ:EVO) Issues Earnings Results

Key Points

• Evotec missed quarterly expectations: The company reported an adjusted loss of $0.14 per share, versus analysts’ expected loss of $0.05, while revenue reached $161.2 million compared with estimates of $173.87 million. The company also reported a negative net margin of 26.2%.
• Shares declined amid weak performance: Evotec stock fell $0.17 to $2.02, near its 12-month low of $1.89 and below its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious: Recent rating downgrades helped produce a consensus “Hold” rating, with an average price target of $3.00; institutional investors own 5.81% of the stock.

Evotec (NASDAQ:EVO - Get Free Report) announced its earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.09), FiscalAI reports. Evotec had a negative return on equity of 24.93% and a negative net margin of 26.20%.The company had revenue of $161.20 million for the quarter, compared to analyst estimates of $173.87 million.

Evotec Price Performance

Shares of NASDAQ EVO traded down $0.17 during mid-day trading on Thursday, reaching $2.02. 24,027 shares of the company's stock were exchanged, compared to its average volume of 98,195. Evotec has a twelve month low of $1.89 and a twelve month high of $4.27. The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $2.41 and a 200 day simple moving average of $2.82.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EVO. Berenberg Bank cut Evotec from a "buy" rating to a "hold" rating in a research note on Thursday, July 16th. Wall Street Zen cut shares of Evotec from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Evotec in a research note on Tuesday, July 21st. TD Cowen lowered shares of Evotec from a "buy" rating to a "hold" rating and set a $2.00 target price on the stock. in a report on Wednesday, July 15th. Finally, HC Wainwright reduced their price target on shares of Evotec from $7.00 to $4.00 and set a "buy" rating on the stock in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $3.00.

Institutional Trading of Evotec

A number of large investors have recently bought and sold shares of EVO. BNP Paribas Financial Markets lifted its stake in Evotec by 62.2% in the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company's stock valued at $50,000 after buying an additional 4,600 shares in the last quarter. Bank of America Corp DE boosted its holdings 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 buying an additional 9,289 shares during the period. Marshall Wace LLP bought a new stake in shares of Evotec during the fourth quarter worth $40,000. XTX Topco Ltd bought a new stake in shares of Evotec during the second quarter worth $66,000. Finally, HRT Financial LP acquired a new stake in shares of Evotec during the fourth quarter worth $72,000. 5.81% of the stock is owned by institutional investors.

About Evotec

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.

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