Jefferies Financial Group Lowers Evotec (NASDAQ:EVO) to Hold

Jefferies Financial Group downgraded shares of Evotec (NASDAQ:EVO) from a buy rating to a hold rating in a research report released on Monday, Marketbeat Ratings reports. They currently have $3.80 target price on the stock, down from their previous target price of $8.70.

EVO has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a hold rating to a sell rating in a report on Thursday, August 8th. HC Wainwright decreased their price target on shares of Evotec from $11.00 to $8.00 and set a buy rating for the company in a report on Thursday, August 15th. Finally, Morgan Stanley lowered shares of Evotec from an overweight rating to an equal weight rating and decreased their price target for the company from $15.00 to $6.00 in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $5.93.

Evotec Stock Performance

EVO opened at $3.12 on Monday. The company has a fifty day moving average price of $3.43 and a two-hundred day moving average price of $4.79. The company has a quick ratio of 1.73, a current ratio of 1.83 and a debt-to-equity ratio of 0.42. Evotec has a 52 week low of $2.85 and a 52 week high of $12.00.

Hedge Funds Weigh In On Evotec

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC bought a new stake in Evotec during the 2nd quarter worth about $87,000. Cetera Advisors LLC bought a new stake in Evotec during the 1st quarter worth about $188,000. DCF Advisers LLC lifted its position in Evotec by 140.5% during the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after buying an additional 67,156 shares in the last quarter. Mubadala Investment Co PJSC bought a new stake in Evotec during the 4th quarter worth about $53,931,000. Finally, Novo Holdings A S bought a new stake in Evotec during the 2nd quarter worth about $71,183,000. 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 autoimmune diseases, cancer, CNS diseases, diabetes, fibrosis, immunology, infectious diseases, kidney diseases, liver diseases, pain and inflammation, rare diseases, respiratory diseases, tuberculosis, and women’s health.