Evotec (NASDAQ:EVO) Sees Strong Trading Volume – Time to Buy?

Evotec SE (NASDAQ:EVO) saw an uptick in trading volume on Friday . 571,431 shares traded hands during trading, an increase of 348% from the previous session’s volume of 127,496 shares.The stock last traded at $5.51 and had previously closed at $5.10.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on EVO. Jefferies Financial Group downgraded shares of Evotec from a “buy” rating to a “hold” rating and reduced their price target for the company from $8.70 to $3.80 in a research report on Monday, October 7th. HC Wainwright restated a “buy” rating and issued a $8.00 price target on shares of Evotec in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut Evotec from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered Evotec from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $15.00 to $6.00 in a research report on Monday, July 29th. One research 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. According to MarketBeat.com, Evotec currently has an average rating of “Hold” and a consensus target price of $5.93.

Evotec Stock Up 6.7 %

The business’s 50 day simple moving average is $3.66 and its two-hundred day simple moving average is $4.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.99 and a current ratio of 2.09.

Institutional Trading of Evotec

Hedge funds have recently bought and sold shares of the company. Novo Holdings A S bought a new stake in shares of Evotec during the 2nd quarter valued at about $71,183,000. Cetera Advisors LLC bought a new stake in Evotec during the first quarter valued at approximately $188,000. Vanguard Personalized Indexing Management LLC bought a new stake in Evotec during the second quarter valued at approximately $87,000. DCF Advisers LLC increased its holdings in Evotec by 140.5% during the second quarter. DCF Advisers LLC now owns 114,953 shares of the company’s stock valued at $552,000 after buying an additional 67,156 shares during the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in Evotec in the third quarter worth approximately $512,000. Hedge funds and other institutional investors 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.