Evotec (NASDAQ:EVO) Shares Gap Up - What's Next?

Evotec SE (NASDAQ:EVO - Get Free Report)'s share price gapped up before the market opened on Monday . The stock had previously closed at $4.13, but opened at $4.95. Evotec shares last traded at $4.68, with a volume of 197,498 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Evotec from a "hold" rating to a "sell" rating in a research note on Thursday, August 8th. Morgan Stanley downgraded Evotec from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $15.00 to $6.00 in a research note on Monday, July 29th. Jefferies Financial Group downgraded Evotec from a "buy" rating to a "hold" rating and cut their price target for the company from $8.70 to $3.80 in a research note on Monday, October 7th. Finally, HC Wainwright restated a "buy" rating and set a $8.00 price target on shares of Evotec in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $5.93.

Evotec Stock Up 17.9 %

The stock has a 50 day moving average of $3.54 and a 200-day moving average of $4.20. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.73 and a current ratio of 2.09.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC bought a new position in shares of Evotec during the 2nd quarter valued at approximately $87,000. Cetera Advisors LLC bought a new position in shares of Evotec during the 1st quarter valued at approximately $188,000. Clear Harbor Asset Management LLC bought a new position in Evotec in the 3rd quarter worth approximately $104,000. DCF Advisers LLC boosted its stake in 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 purchasing an additional 67,156 shares during the period. Finally, Mediolanum International Funds Ltd bought a new position in Evotec in the 3rd quarter worth approximately $512,000. 5.81% of the stock is currently owned by institutional investors.

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.