Evotec (NASDAQ:EVO) Downgraded by Berenberg Bank to Hold

Berenberg Bank cut shares of Evotec (NASDAQ:EVO) from a buy rating to a hold rating in a report published on Thursday morning, Marketbeat.com reports.

A number of other brokerages have also recently issued reports on EVO. Weiss Ratings upgraded Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 target price for the company. in a report on Wednesday. HC Wainwright dropped their price target on Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wall Street Zen downgraded Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.00.

Evotec Price Performance

EVO opened at $1.97 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.60 and a current ratio of 1.68. Evotec has a 12 month low of $1.96 and a 12 month high of $4.41. The stock’s 50 day moving average price is $2.77 and its 200 day moving average price is $3.02.

Evotec (NASDAQ:EVO) last released its earnings results 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. On average, analysts anticipate that Evotec will post -0.63 EPS for the current fiscal year.

Institutional Trading of Evotec

A number of institutional investors and hedge funds have recently modified their holdings of EVO. ABC Arbitrage SA grew its holdings in Evotec by 319.7% in the 4th quarter. ABC Arbitrage SA now owns 554,287 shares of the company’s stock valued at $1,707,000 after buying an additional 422,230 shares during the last quarter. Wellington Management Group LLP raised its stake in Evotec by 25.7% during the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock valued at $5,536,000 after purchasing an additional 367,545 shares during the last quarter. Optiver Holding B.V. boosted its holdings in Evotec by 598.4% in the 1st quarter. Optiver Holding B.V. now owns 283,576 shares of the company’s stock valued at $709,000 after purchasing an additional 242,973 shares during the period. Jane Street Group LLC bought a new stake in Evotec in the 4th quarter valued at $565,000. Finally, Millennium Management LLC acquired a new stake in Evotec in the 4th quarter worth $317,000. 5.81% of the stock is currently 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.