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

Evotec AG (NASDAQ:EVO)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $2.84, but opened at $3.01. Evotec shares last traded at $2.99, with a volume of 2,236 shares.

Wall Street Analyst Weigh In

EVO has been the topic of a number of research reports. Berenberg Bank initiated coverage on shares of Evotec in a report on Tuesday, February 3rd. They set a “buy” rating on the stock. Weiss Ratings raised shares of Evotec from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. HC Wainwright initiated coverage on shares of Evotec in a report on Wednesday, April 15th. They set a “buy” rating and a $7.00 target price on the stock. Finally, Wall Street Zen cut shares of Evotec from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Evotec currently has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Evotec Price Performance

The firm’s 50-day moving average price is $2.78 and its 200 day moving average price is $3.13. The company has a current ratio of 1.68, a quick ratio of 1.60 and a debt-to-equity ratio of 0.43.

Evotec (NASDAQ:EVO) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.05 EPS for the quarter. The business had revenue of $297.02 million during the quarter. Evotec had a negative net margin of 26.20% and a negative return on equity of 24.93%. Equities research analysts predict that Evotec AG will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Evotec

Several institutional investors have recently modified their holdings of EVO. Bank of America Corp DE grew its position in shares of Evotec by 262.5% during the fourth quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock worth $53,000 after acquiring an additional 9,289 shares during the last quarter. XTX Topco Ltd bought a new position in Evotec in the 2nd quarter valued at about $66,000. Marshall Wace LLP bought a new position in Evotec in the 2nd quarter valued at about $169,000. BNP Paribas Financial Markets grew its position in Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after buying an additional 4,600 shares in the last quarter. Finally, Snowden Capital Advisors LLC bought a new position in Evotec in the 2nd quarter valued at about $122,000. Institutional investors 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.