Morgan Stanley lowered shares of Evotec (NASDAQ:EVO – Free Report) from an overweight rating to an equal weight rating in a research note published on Monday, Marketbeat.com reports. Morgan Stanley currently has $6.00 target price on the stock, down from their prior target price of $15.00.
Several other brokerages have also recently issued reports on EVO. HC Wainwright restated a buy rating and set a $11.00 price objective on shares of Evotec in a research note on Thursday, May 23rd. Deutsche Bank Aktiengesellschaft lowered Evotec from a buy rating to a hold rating in a research report on Thursday, July 11th.
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Evotec Stock Up 1.1 %
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Quadrant Capital Group LLC acquired a new position in Evotec during the fourth quarter worth about $25,000. Cetera Advisors LLC acquired a new position in shares of Evotec in the 1st quarter valued at $188,000. Optiver Holding B.V. boosted its position in shares of Evotec by 643.1% in the 4th quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock valued at $945,000 after purchasing an additional 69,936 shares during the period. Finally, Mubadala Investment Co PJSC acquired a new position in shares of Evotec in the 4th quarter valued at $53,931,000. 5.81% of the stock is owned by institutional investors and hedge funds.
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.
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