HC Wainwright Trims Evotec (NASDAQ:EVO) Target Price to $11.00

Evotec (NASDAQ:EVO) had its price objective lowered by HC Wainwright from $14.00 to $11.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 110.33% from the company’s current price.

A number of other equities analysts have also weighed in on EVO. Deutsche Bank Aktiengesellschaft upgraded shares of Evotec from a “hold” rating to a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada upgraded shares of Evotec from a “sector perform” rating to an “outperform” rating in a report on Thursday, January 18th.

Evotec Trading Down 31.6 %

EVO stock opened at $5.23 on Thursday. The firm has a 50 day moving average price of $7.38 and a 200-day moving average price of $8.70. Evotec has a 52-week low of $5.00 and a 52-week high of $13.49.

Institutional Investors Weigh In On Evotec

A number of large investors have recently added to or reduced their stakes in the stock. Mubadala Investment Co PJSC bought a new stake in Evotec in the 4th quarter worth approximately $53,931,000. Optiver Holding B.V. grew its position in shares of Evotec by 643.1% during 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 period. Finally, Quadrant Capital Group LLC bought a new stake in shares of Evotec during the 4th quarter valued at $25,000. 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 diabetes and complications, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women's health.