Zacks Investment Research Lowers Evotec AG (EVTCY) to Hold

Zacks Investment Research downgraded shares of Evotec AG (NASDAQ:EVTCY) from a buy rating to a hold rating in a research report released on Tuesday.

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 research report on Wednesday, July 12th.

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