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

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.

Wall Street Analyst Weigh In

EVO has been the subject of several analyst reports. Jefferies Financial Group lowered Evotec from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $8.70 to $3.80 in a research report on Monday, October 7th. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Evotec in a research report on Thursday, November 7th. 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. According to data from MarketBeat, Evotec presently has a consensus rating of “Hold” and an average price target of $5.93.

Evotec Price Performance

The firm’s 50 day simple moving average is $4.58 and its 200-day simple moving average is $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.

Hedge Funds Weigh In On Evotec

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVO. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Evotec during the 2nd quarter valued at approximately $87,000. Clear Harbor Asset Management LLC acquired a new position in Evotec during the third quarter worth $104,000. DCF Advisers LLC boosted its position in 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 purchasing an additional 67,156 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of Evotec in the 3rd quarter worth about $512,000. Finally, Wellington Management Group LLP increased its stake in shares of Evotec by 29.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,434 shares of the company’s stock worth $9,616,000 after purchasing an additional 602,858 shares in the last quarter. Institutional investors and hedge funds own 5.81% of the company’s stock.

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.