Evotec (NASDAQ:EVO) Now Covered by Analysts at HC Wainwright

Key Points

• HC Wainwright initiated coverage of Evotec with a Buy rating and a $7.00 price target, implying roughly a 119% upside from the prior close.
• Analyst sentiment is mixed—three Buy, one Hold and one Sell—giving an average rating of Hold with a consensus target of $7.00.
• Evotec shares recently traded around $3.20; the company reported $0.05 EPS last quarter on $297.02M revenue but has a negative net margin and ROE, and analysts forecast about -0.41 EPS for the current fiscal year.

Research analysts at HC Wainwright started coverage on shares of Evotec (NASDAQ:EVO - Get Free Report) in a research note issued to investors on Wednesday. The brokerage set a "buy" rating and a $7.00 price target on the stock. HC Wainwright's target price suggests a potential upside of 119.09% from the stock's previous close.

Several other analysts have also recently issued reports on EVO. Wall Street Zen raised shares of Evotec from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of Evotec in a research note on Monday, December 29th. Finally, Berenberg Bank started coverage on shares of Evotec in a research note on Tuesday, February 3rd. They set a "buy" rating for the company. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.00.

Evotec Stock Performance

Shares of NASDAQ EVO traded up $0.08 during trading on Wednesday, hitting $3.20. 37,009 shares of the company traded hands, compared to its average volume of 132,789. Evotec has a 1 year low of $2.31 and a 1 year high of $4.80. The company has a 50-day moving average price of $2.96 and a 200-day moving average price of $3.29. The company has a quick ratio of 1.99, a current ratio of 2.07 and a debt-to-equity ratio of 0.42.

Evotec (NASDAQ:EVO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 earnings per share (EPS) for the quarter. Evotec had a negative net margin of 13.13% and a negative return on equity of 12.40%. The company had revenue of $297.02 million during the quarter. On average, analysts predict that Evotec will post -0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evotec

Several hedge funds and other institutional investors have recently made changes to their positions in EVO. Bank of America Corp DE lifted its holdings in shares of Evotec by 262.5% during the 4th 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 shares of Evotec during the 2nd quarter valued at $66,000. Marshall Wace LLP acquired a new position in shares of Evotec during the 2nd quarter valued at $169,000. BNP Paribas Financial Markets lifted its holdings in shares of Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company's stock valued at $50,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Snowden Capital Advisors LLC acquired a new position in Evotec in the 2nd quarter worth $122,000. Institutional investors and hedge funds own 5.81% of the company's stock.

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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