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

Evommune, Inc. (NYSE:EVMN)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $27.88, but opened at $29.71. Evommune shares last traded at $31.17, with a volume of 207,614 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cantor Fitzgerald initiated coverage on Evommune in a research report on Monday, December 1st. They set an “overweight” rating for the company. Leerink Partners began coverage on Evommune in a research note on Monday, December 1st. They issued an “outperform” rating and a $42.00 price target for the company. Wall Street Zen upgraded shares of Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Zacks Research upgraded shares of Evommune to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings initiated coverage on shares of Evommune in a report on Tuesday, February 3rd. They set a “sell (e)” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Evommune currently has an average rating of “Moderate Buy” and a consensus price target of $45.71.

Evommune Price Performance

The company has a market cap of $996.03 million and a P/E ratio of -3.92. The company’s 50 day moving average is $19.04.

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

Institutional Trading of Evommune

Several institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new stake in Evommune in the fourth quarter valued at $34,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Evommune in the fourth quarter valued at about $179,000. State Street Corp bought a new position in shares of Evommune during the fourth quarter worth about $539,000. TD Asset Management Inc acquired a new position in shares of Evommune in the fourth quarter worth approximately $764,000. Finally, Capricorn Fund Managers Ltd bought a new stake in Evommune in the fourth quarter valued at approximately $1,027,000.

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.