Analysts Set Evotec AG (NASDAQ:EVO) Target Price at $7.00

Shares of Evotec AG (NASDAQ:EVO) have been given an average rating of “Moderate Buy” by the four research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.00.

EVO has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. HC Wainwright initiated coverage on shares of Evotec in a research report on Wednesday, April 15th. They set a “buy” rating and a $7.00 price target for the company. Wall Street Zen raised shares of Evotec from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Finally, Berenberg Bank initiated coverage on shares of Evotec in a research report on Tuesday, February 3rd. They set a “buy” rating for the company.

Evotec Stock Down 2.1%

EVO opened at $3.23 on Friday. Evotec has a 12-month low of $2.31 and a 12-month high of $4.80. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.07 and a quick ratio of 1.99. The firm has a 50 day moving average of $2.91 and a two-hundred day moving average of $3.27.

Evotec (NASDAQ:EVO) last posted its quarterly earnings results 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, equities research analysts expect that Evotec will post -0.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Evotec

Several institutional investors have recently made changes to their positions in EVO. ABC Arbitrage SA increased its holdings in shares of Evotec by 319.7% during the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after purchasing an additional 422,230 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Evotec by 25.7% during the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after purchasing an additional 367,545 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Evotec during the 4th quarter valued at approximately $565,000. Millennium Management LLC purchased a new position in shares of Evotec during the 4th quarter valued at approximately $317,000. Finally, DCF Advisers LLC increased its holdings in shares of Evotec by 7.6% during the 3rd quarter. DCF Advisers LLC now owns 1,198,993 shares of the company’s stock valued at $4,352,000 after purchasing an additional 84,500 shares in the last quarter. 5.81% of the stock is owned by hedge funds and other institutional investors.

Evotec Company Profile

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.