Evommune (NYSE:EVMN) Price Target Cut to $50.00 by Analysts at HC Wainwright

Evommune (NYSE:EVMN) had its price target trimmed by HC Wainwright from $65.00 to $50.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on EVMN. Oppenheimer assumed coverage on Evommune in a research note on Thursday, January 22nd. They set an “outperform” rating and a $42.00 target price for the company. Zacks Research upgraded Evommune to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings assumed coverage on shares of Evommune in a research note on Tuesday, February 3rd. They issued a “sell (e)” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $54.00 target price on shares of Evommune in a research report on Wednesday, February 18th. Finally, Royal Bank Of Canada upgraded shares of Evommune to a “moderate buy” rating in a report on Tuesday, March 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.17.

Evommune Price Performance

Shares of NYSE EVMN opened at $24.18 on Wednesday. Evommune has a twelve month low of $13.89 and a twelve month high of $33.20. The business’s fifty day moving average price is $23.16. The company has a market capitalization of $871.00 million and a P/E ratio of -3.00.

Evommune (NYSE:EVMN) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61).

Institutional Trading of Evommune

Hedge funds and other institutional investors have recently bought and sold shares of the business. EQT Fund Management S.a r.l. bought a new position in Evommune in the 4th quarter valued at about $84,395,000. RA Capital Management L.P. purchased a new position in shares of Evommune during the fourth quarter valued at approximately $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new position in shares of Evommune during the fourth quarter valued at approximately $32,989,000. Nan Fung Group Holdings Ltd purchased a new stake in Evommune in the 4th quarter valued at $24,670,000. Finally, JPMorgan Chase & Co. bought a new position in Evommune during the 4th quarter valued at $22,408,000.

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.