Evotec (NASDAQ:EVO) Releases Earnings Results, Misses Expectations By $0.09 EPS

Evotec (NASDAQ:EVO) posted its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.09), FiscalAI reports. Evotec had a negative return on equity of 24.93% and a negative net margin of 26.20%.The firm had revenue of $161.20 million for the quarter, compared to the consensus estimate of $173.91 million.

Evotec Trading Down 2.7%

Shares of EVO stock traded down $0.06 during mid-day trading on Friday, reaching $1.97. The stock had a trading volume of 23,808 shares, compared to its average volume of 97,763. Evotec has a one year low of $1.89 and a one year high of $4.27. The firm’s 50 day simple moving average is $2.39 and its 200 day simple moving average is $2.81. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Evotec in the 4th quarter valued at $40,000. BNP Paribas Financial Markets boosted its position in shares of Evotec by 62.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after acquiring an additional 4,600 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Evotec by 262.5% during the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after acquiring an additional 9,289 shares in the last quarter. XTX Topco Ltd increased its stake in Evotec by 25.1% in the fourth quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock valued at $57,000 after acquiring an additional 3,709 shares during the period. Finally, HRT Financial LP bought a new stake in Evotec in the fourth quarter valued at about $72,000. 5.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on EVO. Berenberg Bank downgraded shares of Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. TD Cowen downgraded Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target on the stock. in a research report on Wednesday, July 15th. Wall Street Zen lowered Evotec from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Evotec in a research report on Tuesday, July 21st. Finally, HC Wainwright decreased their target price on Evotec from $7.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Evotec presently has a consensus rating of “Hold” and an average price target of $3.00.

Evotec Company Profile

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.