Evotec's €75m Austerity Drive Gains Traction as Goldman Trims Its Bet
Published on 07/03/2026 at 16:56 | Redaktion boerse-global.de
The DAX has been blazing an unbroken trail of fresh records, yet the picture for Evotec remains starkly different. Hamburg’s beleaguered biotech player is clawing its way out of a deep trough, leaning on a radical cost-slashing overhaul that has already caught the eye of technical traders and investors alike. The stock now trades at around €5.14, but the real story lies in the interplay between an aggressive internal restructuring and a notable shift in sentiment among major institutional holders.
A Two-Pronged Story: Cost Cuts and a Stepped-Back Giant
Evotec’s management is pushing through a sweeping programme dubbed "Horizon". Launched earlier this year, it aims to shutter nearly half of the company’s global sites and eliminate roughly 800 positions. By the end of 2027, the initiative is expected to deliver annual savings of €75 million. Industry watchers already anticipate initial benefits to materialise in the current financial year.
Parallel to this tightening, a key heavyweight has quietly lightened its exposure. On 1 July, Goldman Sachs reported a reduction in its overall stake from approximately 14.6% to 13.32%. The vast majority of that holding is tied up in complex instruments such as recall rights and usage rights rather than direct equity. The move comes at a time when Evotec is also adjusting its share count: shareholders recently approved a conditional capital increase at the annual meeting, paving the way for a new management compensation plan. The total number of voting rights now stands at just under 178 million shares.
Bleeding Red Ink, But Guidance Holds
The tough medicine is being administered against a backdrop of deteriorating financials. In the most recent quarterly report, revenue slumped by nearly 22%, dragging the adjusted operating result deep into negative territory at minus €21.9 million. Despite that, the board has stuck to its full-year forecast: revenues of at least €700 million and an operating profit of up to €40 million.
Should investors sell immediately? Or is it worth buying Evotec?
The market environment is offering a modicum of support. New US jobs data for June came in unexpectedly weak — just 57,000 new non-farm positions were created, far below analyst expectations. That has eased fears over aggressive interest rate hikes, providing a tailwind for capital-intensive biotech names like Evotec. Lower financing costs make expensive drug discovery research more palatable.
Chart Signals a Tentative Rebound
After plumbing a springtime low of €4.02, the stock has bounced back 28% and now sits about 3% above its 50-day moving average, a closely watched technical marker. The Relative Strength Index points to a healthy uptrend without signs of overheating. On the week, the shares have gained close to 6%. Yet the year-to-date tally remains negative, with a decline of roughly 7% still on the board.
Goldman’s partial retreat adds a layer of caution. The reduced stake, combined with the impending dilution from the new share awards to management, will force existing holders to reassess the value of their positions. Evotec’s share price still sits more than 33% below its 52-week high, underscoring the distance left to travel.
Evotec at a turning point? This analysis reveals what investors need to know now.
For now, the market is watching whether the cost cuts can offset the revenue decline and whether the technical recovery can hold above the 50-day line. The next catalyst will come when the first tranche of shares from the authorised capital is allocated to executives, a step that will crystallise the dilution impact.
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Evotec Stock: New Analysis - 3 July
Fresh Evotec information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
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