Evotec (NASDAQ:EVO) Price Target Cut to $8.00

Evotec (NASDAQ:EVO) had its price target dropped by stock analysts at HC Wainwright from $11.00 to $8.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 150.78% from the company’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley downgraded Evotec from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $6.00 in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th.

Evotec Stock Down 3.6 %

NASDAQ EVO traded down $0.12 during trading hours on Thursday, hitting $3.19. 36,279 shares of the company’s stock were exchanged, compared to its average volume of 110,677. The company has a current ratio of 1.86, a quick ratio of 1.79 and a debt-to-equity ratio of 0.43. Evotec has a 1-year low of $2.85 and a 1-year high of $12.40. The stock has a 50-day simple moving average of $4.54 and a 200 day simple moving average of $5.91.

Institutional Investors Weigh In On Evotec

Hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC bought a new stake in shares of Evotec in the 4th quarter valued at about $25,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Evotec in the 2nd quarter valued at about $87,000. Cetera Advisors LLC bought a new stake in shares of Evotec in the 1st quarter valued at about $188,000. DCF Advisers LLC lifted its stake in shares of Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after acquiring an additional 67,156 shares during the last quarter. Finally, Optiver Holding B.V. lifted its stake 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 acquiring an additional 69,936 shares during the last quarter. Institutional investors 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.