Evommune, Inc. (NYSE:EVMN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Evommune, Inc. (NYSE:EVMN) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $45.7143.

EVMN has been the topic of several recent research reports. Morgan Stanley started coverage on shares of Evommune in a research report on Monday, December 1st. They issued an “overweight” rating and a $36.00 price target on the stock. Evercore started coverage on Evommune in a research note on Monday, December 1st. They issued an “outperform” rating and a $40.00 price objective for the company. HC Wainwright raised their target price on Evommune from $35.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings started coverage on Evommune in a report on Tuesday, February 3rd. They set a “sell (e)” rating for the company. Finally, Leerink Partners began coverage on Evommune in a research note on Monday, December 1st. They set an “outperform” rating and a $42.00 price objective on the stock.

Evommune Trading Up 13.3%

EVMN stock opened at $31.60 on Friday. Evommune has a 12-month low of $13.89 and a 12-month high of $33.20. The firm has a fifty day moving average price of $19.04. The firm has a market capitalization of $996.03 million and a price-to-earnings ratio of -3.92.

Evommune (NYSE:EVMN) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $10.00 million.

Institutional Investors Weigh In On Evommune

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in shares of Evommune in the fourth quarter worth approximately $16,918,000. The Manufacturers Life Insurance Company purchased a new position in shares of Evommune during the 4th quarter worth approximately $179,000. Pivotal bioVenture Partners Investment Advisor LLC bought a new stake in shares of Evommune during the 4th quarter valued at $32,989,000. Velan Capital Investment Management LP purchased a new stake in shares of Evommune in the fourth quarter worth $8,676,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Evommune during the fourth quarter valued at approximately $1,073,000.

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.