Evotec (NASDAQ:EVO) Releases Quarterly Earnings Results, Misses Estimates By $0.09 EPS

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

Evotec Price Performance

NASDAQ:EVO traded down $0.17 on Thursday, reaching $2.02. 27,822 shares of the stock traded hands, compared to its average volume of 98,240. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.43. Evotec has a 12 month low of $1.89 and a 12 month high of $4.27. The company’s fifty day simple moving average is $2.41 and its 200 day simple moving average is $2.82.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EVO. Marshall Wace LLP bought a new stake in shares of Evotec during the fourth quarter valued at approximately $40,000. BNP Paribas Financial Markets lifted its position in Evotec by 62.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 12,000 shares of the company’s stock valued at $50,000 after acquiring an additional 4,600 shares in the last quarter. Bank of America Corp DE boosted its stake in Evotec by 262.5% during the 4th quarter. Bank of America Corp DE now owns 12,828 shares of the company’s stock valued at $53,000 after purchasing an additional 9,289 shares during the last quarter. XTX Topco Ltd increased its holdings in shares of Evotec by 25.1% in the 4th quarter. XTX Topco Ltd now owns 18,469 shares of the company’s stock worth $57,000 after purchasing an additional 3,709 shares in the last quarter. Finally, HRT Financial LP bought a new stake in shares of Evotec in the 4th quarter worth $72,000. Institutional investors own 5.81% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Report on Evotec

About Evotec

(Get Free Report)

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.

See Also

Earnings History for Evotec (NASDAQ:EVO)

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