Evotec (NASDAQ:EVO) Price Target Cut to $11.00 by Analysts at HC Wainwright

Evotec (NASDAQ:EVO) had its price objective lowered by HC Wainwright from $14.00 to $11.00 in a research note issued to investors on Thursday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Evotec’s Q1 2024 earnings at ($0.03) EPS, Q2 2024 earnings at ($0.04) EPS, Q3 2024 earnings at ($0.03) EPS, Q4 2024 earnings at $0.00 EPS and FY2028 earnings at $0.45 EPS.

Several other brokerages also recently weighed in on EVO. Royal Bank of Canada upgraded shares of Evotec from a sector perform rating to an outperform rating in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft upgraded Evotec from a hold rating to a buy rating in a research note on Friday, April 12th.

Evotec Stock Performance

NASDAQ EVO opened at $5.02 on Thursday. Evotec has a fifty-two week low of $4.87 and a fifty-two week high of $13.49. The business has a 50 day moving average price of $7.24 and a two-hundred day moving average price of $8.61.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC acquired a new stake in shares of Evotec in the 4th quarter valued at about $25,000. Optiver Holding B.V. increased its holdings in Evotec by 643.1% in the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock valued at $945,000 after buying an additional 69,936 shares during the last quarter. Finally, Mubadala Investment Co PJSC acquired a new stake in Evotec during the fourth quarter valued at approximately $53,931,000. 5.81% of the stock is owned by institutional investors and hedge funds.

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 diabetes and complications, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women's health.