Evotec (NASDAQ:EVO) Releases Quarterly Earnings Results

Evotec (NASDAQ:EVO) issued its quarterly earnings results on Thursday. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.09), FiscalAI reports. The firm had revenue of $161.20 million during the quarter, compared to the consensus estimate of $173.87 million. Evotec had a negative net margin of 26.20% and a negative return on equity of 24.93%.

Evotec Price Performance

Shares of NASDAQ:EVO traded down $0.17 during midday trading on Thursday, reaching $2.02. The company had a trading volume of 24,027 shares, compared to its average volume of 98,195. Evotec has a 1-year low of $1.89 and a 1-year high of $4.27. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.60. The business’s 50 day moving average price is $2.41 and its 200 day moving average price is $2.82.

Hedge Funds Weigh In On Evotec

Several hedge funds and other institutional investors have recently made changes to their positions in EVO. XTX Topco Ltd increased its holdings in Evotec by 25.1% during the fourth quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock worth $57,000 after buying an additional 3,709 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Evotec by 25.7% during the 4th quarter. Wellington Management Group LLP now owns 1,797,444 shares of the company’s stock worth $5,536,000 after purchasing an additional 367,545 shares during the last quarter. OLD Mission Capital LLC bought a new stake in shares of Evotec in the 4th quarter valued at about $158,000. Millennium Management LLC acquired a new stake in Evotec in the 4th quarter valued at about $317,000. Finally, Marshall Wace LLP bought a new position in Evotec during the fourth quarter worth about $40,000. 5.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Berenberg Bank downgraded Evotec from a “buy” rating to a “hold” rating in a report on Thursday, July 16th. Wall Street Zen downgraded Evotec from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. TD Cowen cut shares of Evotec from a “buy” rating to a “hold” rating and set a $2.00 price target for the company. in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Evotec in a report on Tuesday, July 21st. Finally, HC Wainwright cut their price objective on shares of Evotec from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.00.

About Evotec

Evotec SE (NASDAQ:EVO) is a global biotechnology company headquartered in Hamburg, Germany, specializing in drug discovery and development partnerships. The company leverages its integrated discovery platforms to support pharmaceutical and biotech clients in advancing novel therapies from target identification through preclinical development.

Evotec’s service offering encompasses high-throughput screening, bioanalytics, combinatorial chemistry, structural biology, pharmacology, and computational drug design.