At the beginning of the week, the two German biotech companies Evotec and MorphoSys have recorded substantial profits. Both shares ranked among the top 5 MDAX stocks with the best daily performance.
MorphoSys shares that gained 3.2% in profits, making it the second strongest MDAX stock of the day, behind Sartorius. However, with a gain of 2.9%, Evotec’s shares ranked fourth. On the one hand, Evotec benefited from a positive assessment of the private bank Berenberg, on the other hand, the presentation has been extremely positively received by the CEO Werner Lanthaler at the German Equity Forum in Frankfurt.
Born2Invest brings you the latest biotech breakthroughs from around the world like this one. Our companion app allows you to get the stock news in sectors such as biotech, finance, cannabis, and many more. Our app distills news into 500 characters or less so that you are always informed no matter where you are, or how tight your schedule is.
The private bank Berenberg have left Evotec on “buy” with a price target of $30.82 (€28). From the current price, this corresponds to the potential of a good 44%. The biotech company is well-positioned to profit from the outsourcing trend in product development in the pharmaceutical industry, analyst Patrick Trucchio wrote in a study published on Monday.
On Monday, November 25, Werner Lanthaler, CEO of Evotec, presented the company’s performance, at the German Equity Forum in Frankfurt. The presentation was very well received. Evotec is very strongly positioned. The company cooperates with almost all the big players in the pharmaceutical industry and also with many medium-sized pharmaceutical and biotech companies, as well as various foundations. Evotec’s platform concept has decisive advantages: Compared to big pharma competitors, Evotec has a clear cost and time advantage.
With the most recent price increase, Evotec’s shares price has returned to the $22.01 (€20) mark, which is of particular psychological importance. The next important mark on the chart is just under $24.22 (€22) in the form of the 200-day line. Another recent positive sign is that the short seller AHL Partners has slightly reduced its short position.
Evotec SE profits
The Evotec SE (ISIN: DE0005664809, WKN: 566480, ticker symbol: EVT, Nasdaq OTC symbol: EVOTF) is a drug discovery and development company that rapidly advances innovative approaches to developing new pharmaceutical products. In order to do so, the company has secured research alliances and development partnerships with leading pharmaceutical and biotechnology companies, academic institutions, patient organizations and venture capital firms. Evotec SE operates worldwide and its more than 2,800 employees offer its customers high-quality, independent and integrated solutions in the field of drug discovery and development.
Evotec SE covers all activities from target to clinical development in order to meet the industry’s need for innovation and efficiency in drug research and development (EVT Execute). Evotec is uniquely positioned today by bringing together world-class scientists, state-of-the-art technologies and extensive experience and expertise in key therapeutic areas, such as neuronal diseases, diabetes and diabetes sequelae, pain and inflammatory diseases, oncology, infectious diseases, respiratory diseases, and fibrosis.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in AktienCheck, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Iberdrola and Porsche to deploy premium electric car stations
Iberdrola and Porsche signed an agreement to install 35 fast and ultra-fast charging stations for electric cars. A Porsche Taycan...
77% of the companies in the Confidi network have started fintech projects
The fintech sector becomes more and more strategic for the major Italian network of companies Confidi, shows the latest survey...
Market update for Late November 2020
Looking at gold’s BEV values since October 19th, it has come close to breaking below its BEV -10% line, but...
Why small caps and value stocks appear to be now outperforming
The COVID-19 rampages on. The building constitutional crisis in the U.S. rages on. And the markets continue to “make” what...
The Burkinabe cotton industry is in full development
According to the Minister in charge of Industry, Harouna Kaboré, the fabrics will be available on the market at the...