Evotec extends losses after TD Cowen cuts to 'hold'

Evotec SE

15/07/2026 08:46

** Shares in Evotec EVTG.DE fall further, down 5.8% on Wednesday, after TD Cowen cuts to "hold" from "buy" following the German drug discovery company's profit warning
** "Q2 miss spotlights cracks in the foundation," the broker says, adding that the weakened near-term outlook, lack of meaningful near-term catalysts and persistent macro-linked challenges weigh on the stock
** On Tuesday, Evotec's profit warning, driven by delayed revenues and slower-than-expected partner negotiations, sent its shares to their lowest level in about 10 years
** TD Cowen says partner delays and slower revenue conversion make the timing of Evotec's revenue inflection increasingly uncertain, with delayed revenue now pushed into 2027 and beyond
** "While we expect ongoing restructuring initiatives should help dampen the impact from persisting market challenges, more disciplined execution on revenue generating goals will likely be needed to achieve outer year guidance," the broker says
** The stock is down 35.2% year-to-date

    
  

($1 = 0.8742 euros)

 (Reporting by Basile Day)
 ((Basile.Day@thomsonreuters.com))