Jefferies Financial Group cut shares of Evotec (NASDAQ:EVO – Free Report) from a buy rating to a hold rating in a research note issued to investors on Monday morning, Marketbeat Ratings reports. They currently have $3.80 target price on the stock, down from their prior target price of $8.70.
EVO has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft downgraded Evotec from a hold rating to a sell rating in a research report on Thursday, August 8th. HC Wainwright dropped their price target on Evotec from $11.00 to $8.00 and set a buy rating on the stock in a research report on Thursday, August 15th. Finally, Morgan Stanley lowered shares of Evotec from an overweight rating to an equal weight rating and decreased their price objective for the stock from $15.00 to $6.00 in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $5.93.
Check Out Our Latest Stock Report on EVO
Evotec Price Performance
Hedge Funds Weigh In On Evotec
A number of hedge funds and other institutional investors have recently modified their holdings of EVO. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Evotec in the second quarter worth $87,000. Cetera Advisors LLC acquired a new position in Evotec during the first quarter worth about $188,000. DCF Advisers LLC boosted its holdings in Evotec by 140.5% in the 2nd quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after purchasing an additional 67,156 shares during the last quarter. Mubadala Investment Co PJSC acquired a new position in Evotec in the 4th quarter valued at about $53,931,000. Finally, Novo Holdings A S purchased a new stake in shares of Evotec in the 2nd quarter valued at approximately $71,183,000. 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 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.
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