Evotec (NASDAQ:EVO) Stock Price Up 10.3% – What’s Next?

Evotec SE (NASDAQ:EVO)’s stock price shot up 10.3% during mid-day trading on Thursday . The stock traded as high as $5.02 and last traded at $5.02. 143,767 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 118,717 shares. The stock had previously closed at $4.55.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EVO. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and lowered their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th. Morgan Stanley lowered Evotec from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $15.00 to $6.00 in a research note on Monday, July 29th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of Evotec in a research note on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lowered Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Trading Up 6.7 %

The firm has a fifty day simple moving average of $3.66 and a 200 day simple moving average of $4.20. The company has a current ratio of 2.09, a quick ratio of 1.99 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in Evotec by 29.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock valued at $9,616,000 after buying an additional 602,858 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in Evotec in the third quarter valued at about $104,000. Mediolanum International Funds Ltd purchased a new stake in Evotec in the third quarter valued at about $512,000. Novo Holdings A S purchased a new stake in Evotec in the second quarter valued at about $71,183,000. Finally, DCF Advisers LLC raised its stake in Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after buying an additional 67,156 shares during the last quarter. 5.81% of the stock is currently owned by hedge funds and other 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.