Evotec (NASDAQ:EVO) Shares Gap Up – Should You Buy?

Evotec AG (NASDAQ:EVO) gapped up before the market opened on Friday . The stock had previously closed at $2.84, but opened at $3.01. Evotec shares last traded at $2.99, with a volume of 2,236 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EVO shares. Wall Street Zen cut shares of Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. HC Wainwright started coverage on shares of Evotec in a report on Wednesday, April 15th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Berenberg Bank started coverage on shares of Evotec in a report on Tuesday, February 3rd. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Evotec Stock Performance

The firm’s fifty day moving average is $2.78 and its 200-day moving average is $3.13. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.43.

Evotec (NASDAQ:EVO) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $297.02 million for the quarter. Evotec had a negative net margin of 26.20% and a negative return on equity of 24.93%. As a group, equities research analysts anticipate that Evotec AG will post -0.63 EPS for the current fiscal year.

Institutional Trading of Evotec

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in shares of Evotec by 262.5% during the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after purchasing an additional 9,289 shares during the period. XTX Topco Ltd acquired a new stake in shares of Evotec during the second quarter worth $66,000. Marshall Wace LLP acquired a new stake in shares of Evotec during the second quarter worth $169,000. BNP Paribas Financial Markets raised its holdings in shares of Evotec by 62.2% during the second quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after purchasing an additional 4,600 shares during the period. Finally, Snowden Capital Advisors LLC acquired a new stake in shares of Evotec during the second quarter worth $122,000. 5.81% of the stock is owned by institutional investors and hedge funds.

About Evotec

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.