Evotec (NASDAQ:EVO) Price Target Lowered to $11.00 at HC Wainwright

Evotec (NASDAQ:EVO) had its target price trimmed by HC Wainwright from $14.00 to $11.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock. 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.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada upgraded Evotec from a sector perform rating to an outperform rating in a research note on Thursday, January 18th. Deutsche Bank Aktiengesellschaft upgraded Evotec from a hold rating to a buy rating in a research note on Friday, April 12th.

Evotec Stock Down 2.5 %

Shares of EVO opened at $5.10 on Thursday. The stock has a 50 day moving average price of $7.33 and a 200 day moving average price of $8.67. Evotec has a 52-week low of $4.87 and a 52-week high of $13.49.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EVO. Quadrant Capital Group LLC purchased a new position in Evotec in the fourth quarter worth $25,000. Optiver Holding B.V. raised its position in Evotec by 643.1% in the fourth quarter. Optiver Holding B.V. now owns 80,810 shares of the company’s stock worth $945,000 after acquiring an additional 69,936 shares in the last quarter. Finally, Mubadala Investment Co PJSC purchased a new position in Evotec in the fourth quarter worth $53,931,000. Hedge funds and other institutional investors 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 diabetes and complications, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women's health.