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

Evotec SE (NASDAQ:EVO) shares gapped up prior to trading on Thursday . The stock had previously closed at $3.01, but opened at $3.10. Evotec shares last traded at $3.06, with a volume of 19,522 shares traded.

Analysts Set New Price Targets

A number of research firms have recently commented on EVO. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Jefferies Financial Group lowered shares of Evotec from a “buy” rating to a “hold” rating and cut their price objective for the company from $8.70 to $3.80 in a research report on Monday, October 7th. HC Wainwright cut their price objective on shares of Evotec from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Morgan Stanley lowered shares of Evotec from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $15.00 to $6.00 in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $5.93.

Evotec Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.73 and a current ratio of 1.83. The firm’s 50-day simple moving average is $3.36 and its 200-day simple moving average is $4.64.

Institutional Investors Weigh In On Evotec

Hedge funds have recently made changes to their positions in the business. Novo Holdings A S bought a new stake in shares of Evotec in the 2nd quarter worth approximately $71,183,000. Cetera Advisors LLC purchased a new position in shares of Evotec in the first quarter worth $188,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Evotec in the second quarter worth $87,000. Finally, DCF Advisers LLC increased its stake in shares of 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 during the period. 5.81% of the stock is currently owned by institutional investors.

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.