Evommune (NYSE:EVMN) Shares Up 9.3% – What’s Next?

Evommune, Inc. (NYSE:EVMN)’s share price was up 9.3% on Friday . The stock traded as high as $16.40 and last traded at $16.40. Approximately 6,980 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 121,450 shares. The stock had previously closed at $15.01.

Analysts Set New Price Targets

EVMN has been the topic of a number of research reports. Leerink Partners assumed coverage on Evommune in a research note on Monday, December 1st. They set an “outperform” rating and a $42.00 price target on the stock. Cantor Fitzgerald assumed coverage on shares of Evommune in a research report on Monday, December 1st. They set an “overweight” rating on the stock. Evercore ISI initiated coverage on shares of Evommune in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price on the stock. Wall Street Zen upgraded shares of Evommune from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Finally, William Blair assumed coverage on shares of Evommune in a research report on Monday, December 1st. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $39.33.

Evommune Price Performance

Evommune (NYSE:EVMN) last announced its quarterly earnings data on Thursday, December 11th. The company reported ($8.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.58) by ($1.49). The business had revenue of $10.00 million for the quarter, compared to the consensus estimate of $10.00 million.

About Evommune

Evommune is a clinical-stage biotechnology company developing innovative therapies that target key drivers of chronic inflammatory diseases, with initial clinical development programs focusing on chronic spontaneous urticaria (“CSU”), atopic dermatitis (“AD”) and ulcerative colitis (“UC”). Chronic inflammation is a significant healthcare problem in the world, substantially impacting patients’ quality of life and leading to life-threatening conditions. These conditions, if not prevented, ultimately lead to fatal diseases, such as cardiovascular diseases, diabetes and cancer, which contribute to three out of every five deaths worldwide and result in an estimated $90 billion of annual cost to the healthcare system in the United States.