Evotec (NASDAQ:EVO) Coverage Initiated by Analysts at Berenberg Bank

Berenberg Bank initiated coverage on shares of Evotec (NASDAQ:EVO) in a report released on Tuesday, MarketBeat reports. The brokerage issued a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. Wall Street Zen upgraded Evotec from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Evotec in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.00.

Evotec Stock Up 10.8%

Shares of NASDAQ EVO opened at $3.79 on Tuesday. The company has a quick ratio of 2.03, a current ratio of 2.12 and a debt-to-equity ratio of 0.48. Evotec has a 1 year low of $2.84 and a 1 year high of $4.80. The stock’s 50-day simple moving average is $3.32 and its 200-day simple moving average is $3.55.

Hedge Funds Weigh In On Evotec

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its stake in Evotec by 262.5% during the fourth 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 during the last quarter. Valeo Financial Advisors LLC acquired a new position in shares of Evotec in the 2nd quarter valued at about $43,000. WCM Investment Management LLC bought a new stake in shares of Evotec during the 2nd quarter valued at about $1,239,000. Envestnet Asset Management Inc. acquired a new stake in Evotec during the second quarter worth about $385,000. Finally, DCF Advisers LLC lifted its holdings in Evotec by 48.3% in the second quarter. DCF Advisers LLC now owns 1,114,493 shares of the company’s stock worth $4,681,000 after acquiring an additional 362,914 shares during the last quarter. 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.