Evommune (NYSE:EVMN) Trading 7.7% Higher – Still a Buy?

Evommune, Inc. (NYSE:EVMN)’s stock price shot up 7.7% during mid-day trading on Tuesday . The company traded as high as $18.22 and last traded at $18.09. 37,484 shares changed hands during trading, a decline of 89% from the average session volume of 344,200 shares. The stock had previously closed at $16.80.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald began coverage on Evommune in a report on Monday, December 1st. They issued an “overweight” rating for the company. The Goldman Sachs Group upgraded shares of Evommune to a “buy” rating in a research report on Wednesday, January 7th. Leerink Partners raised shares of Evommune to a “strong-buy” rating in a research report on Monday, December 1st. Evercore ISI started coverage on shares of Evommune in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price for the company. Finally, Raymond James Financial started coverage on shares of Evommune in a research note on Wednesday, January 7th. They set a “strong-buy” rating and a $40.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Evommune has a consensus rating of “Buy” and an average target price of $39.17.

Evommune Price Performance

The stock has a market capitalization of $594.15 million and a P/E ratio of -2.34. The stock’s 50 day simple moving average is $18.52.

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

Hedge Funds Weigh In On Evommune

An institutional investor recently bought a new position in Evommune stock. Capricorn Fund Managers Ltd acquired a new position in shares of Evommune, Inc. (NYSE:EVMN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 60,000 shares of the company’s stock, valued at approximately $1,027,000. Capricorn Fund Managers Ltd owned approximately 0.19% of Evommune at the end of the most recent quarter.

Evommune Company Profile

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.