Evommune (NYSE:EVMN) Trading 6.9% Higher – Time to Buy?

Evommune, Inc. (NYSE:EVMN) was up 6.9% during trading on Friday . The stock traded as high as $27.20 and last traded at $26.81. Approximately 61,131 shares changed hands during trading, a decline of 92% from the average daily volume of 749,881 shares. The stock had previously closed at $25.09.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EVMN. William Blair began coverage on shares of Evommune in a report on Monday, December 1st. They set an “outperform” rating for the company. Evercore reiterated an “outperform” rating and set a $55.00 target price on shares of Evommune in a research report on Tuesday, February 10th. Raymond James Financial assumed coverage on Evommune in a research note on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price objective on the stock. HC Wainwright boosted their price objective on Evommune from $35.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings started coverage on shares of Evommune in a research note on Tuesday, February 3rd. They set a “sell (e)” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.67.

Evommune Price Performance

The company has a market capitalization of $857.34 million and a price-to-earnings ratio of -3.37. The business’s fifty day moving average is $21.87.

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

Institutional Trading of Evommune

Hedge funds have recently modified their holdings of the company. Verition Fund Management LLC purchased a new position in shares of Evommune in the fourth quarter valued at $9,676,000. JPMorgan Chase & Co. purchased a new stake in Evommune during the fourth quarter valued at $22,408,000. RTW Investments LP bought a new position in Evommune during the fourth quarter valued at $21,976,000. SymBiosis Capital Partners LLC purchased a new position in shares of Evommune in the 4th quarter worth $21,927,000. Finally, Federated Hermes Inc. bought a new stake in shares of Evommune in the 4th quarter worth about $5,564,000.

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.