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

Shares of Evotec SE (NASDAQ:EVO) gapped up prior to trading on Monday . The stock had previously closed at $4.49, but opened at $4.82. Evotec shares last traded at $4.78, with a volume of 11,147 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EVO shares. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Evotec in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut shares of Evotec from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Morgan Stanley cut shares of Evotec from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $15.00 to $6.00 in a report on Monday, July 29th. Finally, Jefferies Financial Group cut shares of Evotec from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $8.70 to $3.80 in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Performance

The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09. The company’s 50 day simple moving average is $3.83 and its 200 day simple moving average is $4.19.

Hedge Funds Weigh In On Evotec

Several large investors have recently bought and sold shares of EVO. Cetera Advisors LLC acquired a new position in Evotec during the 1st quarter valued at about $188,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Evotec in the 2nd quarter worth approximately $87,000. DCF Advisers LLC grew its stake in shares of Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after purchasing an additional 67,156 shares during the last quarter. Novo Holdings A S acquired a new position in shares of Evotec in the 2nd quarter worth approximately $71,183,000. Finally, Mediolanum International Funds Ltd acquired a new position in shares of Evotec in the 3rd quarter worth approximately $512,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

Evotec Company Profile

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.