Merrill Lynch Initiates Coverage on Evotec AG (EVTC)
Stock analysts at Merrill Lynch started coverage on shares of Evotec AG (NASDAQ:EVTC) in a report issued on Monday, Stock Ratings Network reports. The firm set a “buy” rating on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. initiated coverage on shares of Evotec AG (NASDAQ:EVTC) in a research note to investors on Monday. They set a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of Evotec AG (NASDAQ:EVTC) from $25.00 to $28.00 in a research note to investors on Friday, August 9th. Finally, analysts at Credit Suisse raised their price target on shares of Evotec AG (NASDAQ:EVTC) from $25.00 to $27.00 in a research note to investors on Friday, August 9th. They now have an “outperform” rating on the stock.
One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Evotec AG has a consensus rating of “Buy” and an average target price of $27.00.
Shares of Evotec AG (NASDAQ:EVTC) traded down 1.21% on Monday, hitting $22.83. The stock had a trading volume of 881,968 shares. Evotec AG has a one year low of $19.11 and a one year high of $25.67. The stock’s 50-day moving average is $24.32 and its 200-day moving average is $22.22. The company has a market cap of $1.870 billion and a P/E ratio of 106.50.
Evotec AG (NASDAQ:EVTC) last released its earnings data on Wednesday, August 7th. The company reported $0.35 earnings per share (EPS) for the quarter. The company had revenue of $89.20 million for the quarter, compared to the consensus estimate of $84.40 million.
Evotec AG is a Germany-based parent company of the Evotec group, which is engaged in drug discovery and development company focused on providing integrated drug discovery services and alliances to the pharmaceutical and biotechnology industry.
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