Evommune (NYSE:EVMN) Trading 5.3% Higher – Time to Buy?

Evommune, Inc. (NYSE:EVMN)’s share price rose 5.3% on Monday . The stock traded as high as $18.36 and last traded at $18.12. Approximately 15,446 shares changed hands during trading, a decline of 89% from the average daily volume of 146,364 shares. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

EVMN has been the subject of several analyst reports. Evercore ISI initiated coverage on Evommune in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price on the stock. Leerink Partners initiated coverage on Evommune in a research note on Monday, December 1st. They set an “outperform” rating and a $42.00 price objective 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 raised shares of Evommune to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Leerink Partnrs upgraded shares of Evommune to a “strong-buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $39.33.

Evommune Price Performance

Evommune (NYSE:EVMN) last posted its earnings results on Thursday, December 11th. The company reported ($8.07) earnings per share 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 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.