Evotec (NASDAQ:EVO) Cut to “Hold” at Jefferies Financial Group

Evotec (NASDAQ:EVO) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Monday, MarketBeat.com reports. They currently have a $3.80 price target on the stock, down from their previous price target of $8.70. Jefferies Financial Group’s target price points to a potential upside of 16.56% from the company’s previous close.

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

Evotec Stock Performance

EVO stock opened at $3.26 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.73 and a current ratio of 1.83. Evotec has a twelve month low of $2.85 and a twelve month high of $12.00. The business has a fifty day moving average of $3.49 and a 200-day moving average of $4.81.

Institutional Trading of Evotec

A number of hedge funds have recently modified their holdings of the company. Novo Holdings A S acquired a new stake in Evotec during the 2nd quarter worth $71,183,000. Mubadala Investment Co PJSC bought a new stake in shares of Evotec in the fourth quarter worth about $53,931,000. DCF Advisers LLC increased its holdings in shares of Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock worth $552,000 after acquiring an additional 67,156 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Evotec during the first quarter worth about $188,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Evotec during the 2nd quarter valued at about $87,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

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.