Evommune (NYSE:EVMN) Issues Quarterly Earnings Results

Evommune (NYSE:EVMN) released its quarterly earnings data on Thursday. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61), Zacks reports.

Evommune Stock Up 7.7%

NYSE:EVMN traded up $1.94 during mid-day trading on Friday, hitting $27.03. 100,014 shares of the stock traded hands, compared to its average volume of 750,648. Evommune has a 52 week low of $13.89 and a 52 week high of $33.20. The stock has a market cap of $851.99 million and a PE ratio of -3.35. The stock has a 50 day moving average price of $21.87.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of EVMN. The Manufacturers Life Insurance Company purchased a new position in Evommune during the 4th quarter valued at $179,000. XTX Topco Ltd bought a new stake in shares of Evommune during the fourth quarter worth $321,000. Oxford Asset Management LLP purchased a new stake in shares of Evommune during the fourth quarter valued at $335,000. State Street Corp bought a new position in shares of Evommune in the fourth quarter worth about $539,000. Finally, Tudor Investment Corp ET AL purchased a new position in Evommune in the 4th quarter worth about $547,000.

Analyst Ratings Changes

A number of research analysts recently weighed in on EVMN shares. Raymond James Financial assumed coverage on shares of Evommune in a report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 target price for the company. HC Wainwright lifted their price objective on shares of Evommune from $35.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Zacks Research upgraded shares of Evommune to a “hold” rating in a report on Tuesday, December 2nd. Oppenheimer started coverage on shares of Evommune in a report on Thursday, January 22nd. They issued an “outperform” rating and a $42.00 price target for the company. Finally, William Blair initiated coverage on Evommune in a research report on Monday, December 1st. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.67.

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.