Weiss Ratings Reiterates "Sell (E+)" Rating for Evotec (NASDAQ:EVO)

Key Points

• Weiss Ratings has reiterated a "Sell (E+)" rating for Evotec (NASDAQ:EVO), indicating ongoing concerns about the company's performance.
• Evotec has an average price target of $7.00, despite mixed ratings from analysts, with two rating it as a Buy, one as a Hold, and one as a Sell.
• The stock saw a slight increase of 1.5%, trading at $3.98, following fluctuations over the past year, with a low of $2.84 and a high of $5.64.

Evotec (NASDAQ:EVO - Get Free Report)'s stock had its "sell (e+)" rating restated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

EVO has been the subject of several other research reports. HC Wainwright dropped their price objective on shares of Evotec from $8.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Evotec in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Evotec has an average rating of "Hold" and an average price target of $7.00.

Evotec Trading Up 1.5%

NASDAQ:EVO opened at $3.98 on Wednesday. Evotec has a 12-month low of $2.84 and a 12-month high of $5.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.58 and a quick ratio of 1.49. The firm has a 50-day moving average price of $3.67 and a 200 day moving average price of $3.84.

Institutional Trading of Evotec

Hedge funds and other institutional investors have recently modified their holdings of the stock. Valeo Financial Advisors LLC acquired a new stake in shares of Evotec in the second quarter valued at approximately $43,000. BNP Paribas Financial Markets increased its holdings 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 valued at $50,000 after purchasing an additional 4,600 shares in the last quarter. Bank of America Corp DE boosted its stake in 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 acquiring an additional 9,289 shares during the last quarter. UMB Bank n.a. bought a new position in Evotec in the second quarter valued at approximately $56,000. Finally, XTX Topco Ltd bought a new position in Evotec in the second quarter valued at approximately $66,000. Institutional investors and hedge funds own 5.81% of the company's stock.

About Evotec

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.

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