Evotec (NASDAQ:EVO) Shares Up 9.1% - Time to Buy?

Evotec SE (NASDAQ:EVO - Get Free Report) shares shot up 9.1% during mid-day trading on Monday . The company traded as high as $3.84 and last traded at $3.84. 15,254 shares traded hands during trading, a decline of 86% from the average session volume of 106,391 shares. The stock had previously closed at $3.52.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EVO. Deutsche Bank Aktiengesellschaft lowered shares of Evotec from a "hold" rating to a "sell" rating in a research report on Thursday, August 8th. Morgan Stanley lowered shares of Evotec from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $15.00 to $6.00 in a research report on Monday, July 29th. HC Wainwright lowered their target price on shares of Evotec from $11.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lowered shares of Evotec from a "buy" rating to a "hold" rating and lowered their target price for the stock from $8.70 to $3.80 in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $5.93.

Evotec Price Performance

The company has a current ratio of 1.83, a quick ratio of 1.73 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $3.40 and a two-hundred day moving average of $4.39.

Institutional Investors Weigh In On Evotec

Several hedge funds have recently modified their holdings of the stock. Novo Holdings A S acquired a new stake in Evotec in the second quarter valued at $71,183,000. Mediolanum International Funds Ltd acquired a new stake in Evotec in the third quarter valued at $512,000. DCF Advisers LLC lifted its holdings in Evotec by 140.5% in the second quarter. DCF Advisers LLC now owns 114,953 shares of the company's stock valued at $552,000 after acquiring an additional 67,156 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Evotec in the third quarter valued at $104,000. Finally, Cetera Advisors LLC acquired a new stake in Evotec in the first quarter valued at $188,000. 5.81% of the stock is owned by institutional investors and hedge funds.

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.