Evotec and MorphoSys recorded substantial profits
Evotec and MorphoSys, two German biotech companies recorded substantial profits. The MorphoSys shares gained 3.2%, making it the second strongest MDAX stock of the day, after Sartorius. With a plus of 2.9%, Evotec’s shares ranked fourth. The company benefited from a positive assessment of the private bank Berenberg, which have left Evotec on “buy” with a price target of $30.82.
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.
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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.
(Featured image by Frank Bush via Unsplash)
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