Above all, the classification as a possible “Tesla the biologics manufacturer” sounds appealing – and inspires imagination. EVOTEC shares ultimately climbed 8.39 percent to EUR 22.86 via XETRA on Thursday. In the meantime, the paper even climbed above the 23 euro mark to its highest level since the end of August 2022.
Citi analyst Peter Verdult eter Verdult had raised his price target from EUR 21.00 to EUR 31.60. In the best case, he even thinks 48 euros is possible and thus more than a doubling of the price.
The story of the in-house platform Just – EVOTEC Biologics, with which the Bavarians have been advertising for years, has gained enormous contours through the recent deal with the Novartis subsidiary Sandoz, praised Verdult. He sees “relatively little risk” for the potential $640 million in development milestone payments that the contract with the Swiss envisages.
A few weeks ago, EVOTEC was unable to submit its certified annual report for 2022 by the deadline due to a cyber attack, which is why Deutsche Börse removed the share from the MDAX at short notice – two events that had weighed on the price.
Since the interim low at the beginning of May, however, the papers have become more popular with investors again, and the price has increased by half during this time. It is now also clear that EVOTEC will return to the index of medium-sized stocks on June 19th. The annual report is available, so nothing stands in the way of a resumption.
/ag/mis
FRANKFURT (dpa-AFX Broker)
Leverage must be between 2 and 20
No data
More news about EVOTEC SE
Image Credits: REMY GABALDA/AFP/Getty Images