Evotec (NASDAQ:EVO) Shares Gap Up – Should You Buy?

Evotec SE (NASDAQ:EVO) shares gapped up before the market opened on Thursday . The stock had previously closed at $3.01, but opened at $3.10. Evotec shares last traded at $3.06, with a volume of 19,522 shares trading hands.

Analyst Ratings Changes

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

Evotec Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.73 and a current ratio of 1.83. The company’s 50-day moving average price is $3.36 and its 200 day moving average price is $4.64.

Institutional Investors Weigh In On Evotec

Hedge funds and other institutional investors have recently made changes to their positions in the business. Novo Holdings A S purchased a new stake in Evotec in the 2nd quarter worth approximately $71,183,000. DCF Advisers LLC increased its holdings in 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 in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Evotec in the 2nd quarter worth approximately $87,000. Finally, Cetera Advisors LLC purchased a new stake in Evotec in the 1st quarter worth approximately $188,000. Hedge funds and other institutional investors own 5.81% of the company’s stock.

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.