Evotec (NASDAQ:EVO) Stock Price Up 9.1% – Time to Buy?

Evotec SE (NASDAQ:EVO) shot up 9.1% on Monday . The company traded as high as $3.84 and last traded at $3.84. 15,254 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 106,391 shares. The stock had previously closed at $3.52.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. HC Wainwright dropped their target price on Evotec from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and dropped their price objective for the company from $8.70 to $3.80 in a research note on Monday, October 7th. Morgan Stanley downgraded shares of 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 note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One 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’s stock. Based on data from MarketBeat, Evotec has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Price Performance

The company has a current ratio of 1.83, a quick ratio of 1.73 and a debt-to-equity ratio of 0.42. The business has a 50-day simple moving average of $3.39 and a 200 day simple moving average of $4.41.

Hedge Funds Weigh In On Evotec

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC bought a new stake in Evotec in the second quarter valued at $87,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Evotec in the 3rd quarter worth about $104,000. Cetera Advisors LLC bought a new stake in shares of Evotec during the 1st quarter valued at about $188,000. Mediolanum International Funds Ltd purchased a new position in shares of Evotec during the third quarter valued at about $512,000. Finally, DCF Advisers LLC raised its stake in Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after buying an additional 67,156 shares in 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.