Sectoral Asset Management Inc. Purchases New Position in Evommune, Inc. $EVMN

Sectoral Asset Management Inc. acquired a new position in Evommune, Inc. (NYSE:EVMN) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 589,005 shares of the company’s stock, valued at approximately $10,084,000. Evommune accounts for 8.0% of Sectoral Asset Management Inc.’s investment portfolio, making the stock its largest holding.

Separately, Capricorn Fund Managers Ltd purchased a new stake in Evommune in the 4th quarter worth about $1,027,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on EVMN. Wall Street Zen raised shares of Evommune from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Evercore reissued an “outperform” rating and issued a $55.00 price objective on shares of Evommune in a research report on Tuesday, February 10th. Stifel Nicolaus initiated coverage on shares of Evommune in a research report on Friday, May 1st. They issued a “buy” rating and a $54.00 price objective on the stock. Morgan Stanley raised their target price on shares of Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Weiss Ratings initiated coverage on shares of Evommune in a research report on Tuesday, February 3rd. They set a “sell (e)” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $49.25.

Evommune Trading Down 0.6%

Shares of EVMN opened at $22.74 on Monday. The firm has a market capitalization of $818.95 million and a P/E ratio of -2.39. Evommune, Inc. has a twelve month low of $13.89 and a twelve month high of $33.20. The company has a 50 day moving average price of $24.19.

Evommune (NYSE:EVMN) last announced its earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.19. As a group, research analysts anticipate that Evommune, Inc. will post -2.86 earnings per share for the current fiscal year.

Evommune 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.