Evotec (NASDAQ:EVO) Stock Price Up 4.4% - Should You Buy?

Key Points

• Evotec AG shares rose by 4.4% during trading, closing at $4.23 after reaching a high of $4.22.
• Analysts have an average rating of "Hold" for Evotec, with a price target of $5.93, reflecting a mix of buy and hold ratings.
• Hedge funds have shown increased interest in Evotec, with significant boosts in holdings by firms like DCF Advisers LLC and Bank of America Corp.
• Evotec specializes in drug discovery and development across various therapeutic areas, including autoimmune diseases, cancer, and diabetes.

Shares of Evotec AG (NASDAQ:EVO - Get Free Report) traded up 4.4% during trading on Friday . The stock traded as high as $4.22 and last traded at $4.23. 16,003 shares traded hands during trading, a decline of 84% from the average session volume of 102,159 shares. The stock had previously closed at $4.05.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Evotec from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Evotec in a report on Thursday, May 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $5.93.

Evotec Stock Performance

The company has a quick ratio of 1.93, a current ratio of 2.03 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average price is $4.12 and its 200-day moving average price is $4.00.

Hedge Funds Weigh In On Evotec

Several hedge funds and other institutional investors have recently made changes to their positions in the company. DCF Advisers LLC boosted its position in shares of Evotec by 227.0% in the first quarter. DCF Advisers LLC now owns 751,579 shares of the company's stock valued at $2,510,000 after acquiring an additional 521,708 shares during the period. WCM Investment Management LLC acquired a new position in Evotec during the second quarter worth about $1,239,000. ABC Arbitrage SA acquired a new position in Evotec during the first quarter worth about $260,000. Lighthouse Investment Partners LLC acquired a new position in Evotec during the fourth quarter worth about $166,000. Finally, UMB Bank n.a. acquired a new position in Evotec during the second quarter worth about $56,000. 5.81% of the stock is owned by institutional investors.

Evotec Company Profile

Evotec SE operates as drug discovery and development partner for the pharmaceutical and biotechnology industry worldwide. The company is developing pharmaceutical products in various therapeutic areas, such as autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women's health.