With Baader Bank’s analysts, a first research house has responded to Evotec’s US news published today. One sees further slight upside potential for the biotech value, which is quoted at 25.63 euros (+5.17 percent) on Wednesday afternoon and thus reacts positively to the order of the US government for the US subsidiary Just – Evotec Biologics. Baader Bank stock analysts expect the price of the TecDAX-listed stock to rise to EUR 28 and rate Evotec’s shares with “Add”. This confirms the previous ratings for the Hamburg company’s share certificate.
The analysts believe that the program to provide two monoclonal antibodies directed against SARS-CoV-2 antigens could be expanded if successful. In order to adjust potential income upwards, the upcoming clinical data should therefore be awaited, according to the stock analysts.
Evotec will use a manufacturing process of two monoclonal antibodies against SARS-CoV-2 antigens for clinical production according to current good manufacturing practices, according to Evotec. The antibodies will then be tested in early clinical studies and ultimately used to treat and prevent SARS-CoV-2 infections, the TecDAX-listed company continues. Evotec puts the previous order volume for the US subsidiary at up to $ 18.2 million.
“The response to COVID-19 requires the use of fast, flexible, scalable and robust development and manufacturing technologies. Our company and platform have been designed to quickly and safely develop the safe and effective products needed to fight COVID-19 and future pandemics, ”said James Thomas, Executive Vice President Global Head Biotherapeutics at Just – Evotec Biologics.
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At a glance – chart and news: Evotec