Evotec (NASDAQ:EVO) Stock Rating Lowered by Berenberg Bank

Key Points

• Berenberg Bank downgraded Evotec from a “buy” to a “hold” rating in a report issued Thursday.
• Other analysts have recently turned more cautious as well, with TD Cowen cutting Evotec to “hold” and setting a $2.00 price target; the stock’s overall consensus rating is now “hold” with an average target of $3.00.
• Evotec shares were trading near their 52-week low at $2.01, and the company posted weak profitability metrics in its latest quarter, including a negative return on equity and negative net margin.

Evotec (NASDAQ:EVO - Get Free Report) was downgraded by equities researchers at Berenberg Bank from a "buy" rating to a "hold" rating in a report issued on Thursday.

Several other research firms have also commented on EVO. Wall Street Zen lowered shares of Evotec from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Evotec from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, April 24th. HC Wainwright reduced their price objective on shares of Evotec from $7.00 to $4.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, TD Cowen lowered Evotec from a "buy" rating to a "hold" rating and set a $2.00 target price for the company. in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Evotec presently has a consensus rating of "Hold" and an average price target of $3.00.

Evotec Price Performance

Shares of NASDAQ:EVO opened at $2.01 on Thursday. Evotec has a 52 week low of $1.97 and a 52 week high of $4.41. The firm has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $3.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60.

Evotec (NASDAQ:EVO - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. The business had revenue of $297.02 million during the quarter. Evotec had a negative return on equity of 24.93% and a negative net margin of 26.20%. As a group, sell-side analysts predict that Evotec will post -0.63 earnings per share for the current year.

Hedge Funds Weigh In On Evotec

Several hedge funds and other institutional investors have recently modified their holdings of EVO. ABC Arbitrage SA lifted its stake in shares of Evotec by 319.7% during the fourth quarter. ABC Arbitrage SA now owns 554,287 shares of the company's stock worth $1,707,000 after buying an additional 422,230 shares during the period. Wellington Management Group LLP increased its position in shares of Evotec by 25.7% in the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company's stock valued at $5,536,000 after acquiring an additional 367,545 shares during the period. Optiver Holding B.V. increased its position in shares of Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company's stock valued at $709,000 after acquiring an additional 242,973 shares during the period. Jane Street Group LLC purchased a new position in Evotec in the 4th quarter worth $565,000. Finally, Millennium Management LLC purchased a new position in Evotec in the 4th quarter worth $317,000. 5.81% of the stock is owned by hedge funds and other 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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