Evotec (NASDAQ:EVO) Price Target Cut to $11.00

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, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 119.12% from the company’s current price. 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.

EVO has been the subject of several other reports. Deutsche Bank Aktiengesellschaft upgraded shares of Evotec from a “hold” rating to a “buy” rating in a research report on Friday, April 12th. Royal Bank of Canada upgraded shares of Evotec from a “sector perform” rating to an “outperform” rating in a research report on Thursday, January 18th.

Evotec Trading Down 1.6 %

EVO opened at $5.02 on Thursday. The firm has a 50-day moving average price of $7.29 and a 200-day moving average price of $8.65. Evotec has a twelve month low of $4.87 and a twelve month high of $13.49.

Institutional Investors Weigh In On Evotec

Hedge funds have recently made changes to their positions in the business. Mubadala Investment Co PJSC bought a new position in Evotec in the 4th quarter worth $53,931,000. Optiver Holding B.V. raised its holdings in Evotec by 643.1% in the 4th quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after purchasing an additional 69,936 shares in the last quarter. Finally, Quadrant Capital Group LLC bought a new position in Evotec in the 4th quarter worth $25,000. 5.81% of the stock is currently owned by institutional investors.

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