Evotec (NASDAQ:EVO) Shares Gap Up – Still a Buy?

Shares of Evotec SE (NASDAQ:EVO) gapped up before the market opened on Thursday . The stock had previously closed at $4.16, but opened at $4.32. Evotec shares last traded at $4.29, with a volume of 6,705 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EVO. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Evotec in a research note on Thursday, November 7th. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and dropped their price target for the company from $8.70 to $3.80 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Evotec currently has an average rating of “Hold” and an average target price of $5.93.

Evotec Price Performance

The stock has a 50 day simple moving average of $4.55 and a 200 day simple moving average of $4.13. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 0.43.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC acquired a new position in Evotec during the 2nd quarter valued at about $87,000. DCF Advisers LLC boosted its position in shares of Evotec by 140.5% during 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 during the period. Novo Holdings A S acquired a new position in shares of Evotec during the second quarter worth approximately $71,183,000. Mediolanum International Funds Ltd bought a new position in Evotec in the 3rd quarter worth approximately $512,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in Evotec in the 3rd quarter valued at approximately $104,000. 5.81% of the stock is currently owned by institutional investors.

Evotec Company Profile

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.