5 Best Drug Stocks To Buy Now

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In this article, we discuss 5 best drug stocks to buy now. If you want to see more drug stocks to invest in, click 15 Best Drug Stocks To Buy Now.

5. Evotec SE (NYSE:EVO)

Number of Hedge Fund Holders: 1

Evotec SE (NYSE:EVO) is a German drug discovery, pharmaceutical, and biotechnology company that produces drug candidates for diabetes, fibrosis, infectious diseases, CNS diseases, oncology, pain and inflammation, immunology, rare diseases, respiratory diseases, and women’s health. 

On May 13, Deutsche Bank analyst Falko Friedrichs upgraded Evotec SE (NYSE:EVO) to Buy from Hold with a price target of EUR 30, down from EUR 33. The company’s drug pipeline “is completely priced out” at current share levels, the analyst told investors in a research note. 

Evotec SE (NYSE:EVO) posted FY results on April 21, posting a revenue of €618 million, up 23.4% year-over-year. The company also has a very strong liquidity position with €858.2 million in cash. Evotec SE (NYSE:EVO) has recently partnered with pharma peers Sernova and Bristol Myers Squibb to commercialize different medical therapies. 

According to Insider Monkey’s database, 1 hedge fund was bullish on Evotec SE (NYSE:EVO) at the end of March 2022, compared to 3 funds in the preceding quarter. 

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