Evotec AG (EVTCY) Stock Rating Upgraded by Zacks Investment Research

Evotec AG (NASDAQ:EVTCY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage currently has a $56.00 price objective on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 17.40% from the stock’s current price.

According to Zacks, “EVOTEC is a leader in the discovery and development of novel small molecule drugs. They have established a powerful platform that is applicable to targets across all therapeutic areas and has specific expertise in the area of Central Nervous System related diseases where it is building a pipeline of drug candidates for partnering. Through research collaborations and proprietary projects They are providing the highest quality research results to its partners in the pharmaceutical and biotechnology industries “

Separately, DZ Bank AG reiterated a “sell” rating on shares of Evotec AG in a report on Thursday, August 17th.

Evotec AG (EVTCY) opened at 47.70 on Monday. Evotec AG has a one year low of $10.82 and a one year high of $52.82. The stock’s 50 day moving average is $43.88 and its 200 day moving average is $31.79. The stock has a market capitalization of $3.49 billion and a price-to-earnings ratio of 80.03.

Evotec AG (NASDAQ:EVTCY) last announced its quarterly earnings results on Thursday, August 10th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.03). The firm had revenue of $58.52 million during the quarter, compared to analyst estimates of $50.06 million.

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About Evotec AG

Evotec AG is a drug discovery and development company. The Company operates through two segments. The EVT Execute segment provides standalone drug discover services on a typical fee-for-service basis or integrated drug discovery collaborations on partners’ target through a range of commercial structures, including research fees, milestones and/or royalties.

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