Evotec (NASDAQ:EVO) Trading Up 10.3% – Still a Buy?

Evotec SE (NASDAQ:EVO)’s share price traded up 10.3% on Thursday . The company 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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EVO shares. Morgan Stanley lowered Evotec from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and dropped their price target for the company from $8.70 to $3.80 in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft downgraded Evotec from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Evotec in a report on Thursday, November 7th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $5.93.

Evotec Price Performance

The company’s fifty day moving average price is $3.58 and its 200 day moving average price is $4.20. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Evotec

Several hedge funds have recently modified their holdings of EVO. Vanguard Personalized Indexing Management LLC bought a new position in Evotec during the second quarter valued at about $87,000. Clear Harbor Asset Management LLC purchased a new position in Evotec during the 3rd quarter valued at about $104,000. Cetera Advisors LLC purchased a new position in Evotec during the first quarter valued at approximately $188,000. Mediolanum International Funds Ltd bought a new position in shares of Evotec in the third quarter worth $512,000. Finally, DCF Advisers LLC increased its stake 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 during the last quarter. 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.