Evotec (NASDAQ:EVO) Earns Buy Rating from Analysts at Berenberg Bank

Berenberg Bank started coverage on shares of Evotec (NASDAQ:EVO) in a report published on Tuesday morning, Marketbeat reports. The firm issued a buy rating on the stock.

A number of other research firms have also recently weighed in on EVO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a report on Monday, December 29th. Wall Street Zen raised shares of Evotec from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Evotec currently has an average rating of “Hold” and an average target price of $7.00.

Evotec Price Performance

Shares of Evotec stock opened at $3.52 on Tuesday. Evotec has a fifty-two week low of $2.84 and a fifty-two week high of $4.80. The company has a current ratio of 2.12, a quick ratio of 2.03 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $3.34 and a 200 day moving average of $3.55.

Institutional Trading of Evotec

Several hedge funds have recently made changes to their positions in the business. Valeo Financial Advisors LLC acquired a new position in shares of Evotec in the second quarter valued at approximately $43,000. BNP Paribas Financial Markets boosted 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 during the period. Bank of America Corp DE grew its stake in shares of Evotec by 262.5% in 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 in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Evotec during the third quarter worth $53,000. Finally, XTX Topco Ltd acquired a new stake in shares of Evotec in the second quarter valued at $66,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

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.