Evotec (NASDAQ:EVO) Shares Gap Down – What’s Next?
by Scott Moore · The Cerbat GemEvotec AG (NASDAQ:EVO – Get Free Report)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $3.03, but opened at $2.92. Evotec shares last traded at $2.90, with a volume of 2,931 shares traded.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Berenberg Bank assumed coverage on Evotec in a research note on Tuesday, February 3rd. They set a “buy” rating for the company. Wall Street Zen lowered Evotec from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Finally, HC Wainwright assumed coverage on Evotec in a research note on Wednesday, April 15th. They issued a “buy” rating and a $7.00 target price for the company. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.
View Our Latest Analysis on EVO
Evotec Stock Up 3.1%
The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $2.83 and a 200-day moving average price of $3.11.
Evotec (NASDAQ:EVO – Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.05 earnings per share for the quarter. Evotec had a negative return on equity of 24.93% and a negative net margin of 26.20%.The firm had revenue of $297.02 million during the quarter. Equities analysts predict that Evotec AG will post -0.63 earnings per share for the current year.
Institutional Investors Weigh In On Evotec
A number of hedge funds have recently bought and sold shares of EVO. Bank of America Corp DE grew its stake in Evotec by 262.5% during the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after purchasing an additional 9,289 shares in the last quarter. XTX Topco Ltd acquired a new stake in Evotec during the 2nd quarter valued at approximately $66,000. Marshall Wace LLP acquired a new stake in Evotec during the 2nd quarter valued at approximately $169,000. BNP Paribas Financial Markets lifted its holdings in Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock worth $50,000 after buying an additional 4,600 shares during the last quarter. Finally, Snowden Capital Advisors LLC bought a new position in Evotec during the 2nd quarter worth approximately $122,000. Institutional investors and hedge funds own 5.81% of the company’s stock.
Evotec Company Profile
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.