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

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

Several other equities analysts have also issued reports on EVO. HC Wainwright lowered their price target on Evotec from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Morgan Stanley lowered Evotec from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Evotec presently has a consensus rating of “Hold” and an average target price of $5.93.

Evotec Stock Down 2.4 %

NASDAQ EVO opened at $3.26 on Monday. The company’s fifty day moving average is $3.49 and its two-hundred day moving average is $4.81. Evotec has a 52-week low of $2.85 and a 52-week high of $12.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.73 and a current ratio of 1.83.

Institutional Trading of Evotec

Institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC bought a new position in Evotec during the 2nd quarter valued at about $87,000. Cetera Advisors LLC bought a new position in shares of Evotec in the first quarter valued at approximately $188,000. DCF Advisers LLC boosted its holdings 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 acquiring an additional 67,156 shares in the last quarter. Mubadala Investment Co PJSC bought a new stake in Evotec during the 4th quarter worth approximately $53,931,000. Finally, Novo Holdings A S bought a new stake in Evotec during the 2nd quarter worth approximately $71,183,000. Institutional investors and hedge funds own 5.81% of the company’s stock.

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.