Evotec (NASDAQ:EVO) Shares Gap Up – Still a Buy?

Evotec SE (NASDAQ:EVO) shares gapped up prior to trading on Wednesday . The stock had previously closed at $3.27, but opened at $3.53. Evotec shares last traded at $3.50, with a volume of 48,842 shares changing hands.

Analyst Ratings Changes

A number of research firms have commented on EVO. Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and dropped their price target for the stock from $8.70 to $3.80 in a research report on Monday, October 7th. HC Wainwright dropped their target price on Evotec from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Morgan Stanley downgraded Evotec from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $15.00 to $6.00 in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.93.

Evotec Stock Up 2.3 %

The company has a current ratio of 1.83, a quick ratio of 1.73 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $3.38 and its 200 day moving average is $4.48.

Institutional Investors Weigh In On Evotec

A number of institutional investors and hedge funds have recently modified their holdings of EVO. Novo Holdings A S acquired a new position in shares of Evotec in the 2nd quarter worth $71,183,000. Mediolanum International Funds Ltd acquired a new position in shares of Evotec in the 3rd quarter worth $512,000. DCF Advisers LLC grew its holdings in shares of Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after acquiring an additional 67,156 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Evotec in the 3rd quarter worth $104,000. Finally, Cetera Advisors LLC acquired a new position in shares of Evotec in the 1st quarter worth $188,000. 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.