Insider Selling: Evotec AG Director Sells 9,057,000 Shares of Stock (EVTC)
Evotec AG (NASDAQ:EVTC) Director Popular Inc sold 9,057,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $21.77, for a total transaction of $197,170,890.00. Following the transaction, the director now directly owns 17,454,803 shares of the company’s stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
EVTC has been the subject of a number of recent research reports. Analysts at Merrill Lynch 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 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. Finally, 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.
One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $27.00.
Shares of Evotec AG (NASDAQ:EVTC) traded down 0.96% during mid-day trading on Thursday, hitting $22.74. The stock had a trading volume of 2,464,200 shares. Evotec AG has a one year low of $19.11 and a one year high of $25.67. The stock has a 50-day moving average of $24.2 and a 200-day moving average of $22.24. The company has a market cap of $1.863 billion and a P/E ratio of 105.81.
Evotec AG (NASDAQ:EVTC) last announced its earnings results 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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