Evotec (NASDAQ:EVO) Shares Gap Down - Should You Sell?

Key Points

• Shares gapped down before the open, falling from $3.30 to an opening price of $3.11 and last trading around $3.09 (about a 7.0% drop) on ~18,257 shares.
• Analyst coverage is mixed—three Buys, one Hold and one Sell—leaving an average MarketBeat rating of Hold and an average price target of $7.00.
• Latest quarter: EPS $0.05 on $297.02M revenue, with a negative ROE (-12.4%) and net margin (-13.13%); analysts forecast FY EPS of -0.59.

Shares of Evotec AG (NASDAQ:EVO - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $3.30, but opened at $3.11. Evotec shares last traded at $3.0910, with a volume of 18,257 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EVO shares. Weiss Ratings restated a "sell (d-)" rating on shares of Evotec in a report on Monday, December 29th. Berenberg Bank assumed coverage on Evotec in a research report on Tuesday, February 3rd. They issued a "buy" rating for the company. HC Wainwright assumed coverage on Evotec in a research report on Wednesday, April 15th. They issued a "buy" rating and a $7.00 target price for the company. Finally, Wall Street Zen raised Evotec from a "sell" rating to a "hold" rating in a research report on Saturday, January 10th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $7.00.

Evotec Stock Down 7.0%

The company has a quick ratio of 1.99, a current ratio of 2.07 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $2.91 and a 200 day moving average price of $3.27.

Evotec (NASDAQ:EVO - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $297.02 million during the quarter. Evotec had a negative return on equity of 12.40% and a negative net margin of 13.13%. As a group, analysts predict that Evotec AG will post -0.59 earnings per share for the current fiscal year.

Institutional Trading of Evotec

A number of institutional investors have recently bought and sold shares of EVO. Apollon Wealth Management LLC acquired a new stake in Evotec during the first quarter valued at $28,000. Marshall Wace LLP acquired a new stake in shares of Evotec in the fourth quarter worth about $40,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Evotec in the first quarter worth about $44,000. BNP Paribas Financial Markets lifted its position in shares of Evotec by 62.2% in the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company's stock worth $50,000 after buying an additional 4,600 shares during the last quarter. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of Evotec in the third quarter worth about $53,000. 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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