Oppenheimer Initiates Coverage on Evommune (NYSE:EVMN)

Research analysts at Oppenheimer began coverage on shares of Evommune (NYSE:EVMN) in a report issued on Tuesday. The brokerage set an “outperform” rating and a $50.00 price target on the stock. Oppenheimer’s target price points to a potential upside of 99.53% from the company’s previous close.

A number of other equities analysts have also commented on EVMN. The Goldman Sachs Group upgraded Evommune to a “buy” rating in a research note on Wednesday, January 7th. Weiss Ratings initiated coverage on Evommune in a research note on Tuesday, February 3rd. They issued a “sell (e)” rating on the stock. Evercore reiterated an “outperform” rating and issued a $55.00 price objective on shares of Evommune in a research note on Tuesday, February 10th. Clear Str upgraded Evommune to a “strong-buy” rating in a research note on Tuesday, March 17th. Finally, HC Wainwright dropped their price objective on Evommune from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $48.50.

Evommune Trading Up 1.9%

NYSE:EVMN traded up $0.48 during trading hours on Tuesday, reaching $25.06. The company’s stock had a trading volume of 33,338 shares, compared to its average volume of 609,731. The company has a market cap of $902.63 million and a P/E ratio of -3.10. Evommune has a one year low of $13.89 and a one year high of $33.20. The business has a 50-day moving average of $24.16.

Evommune (NYSE:EVMN) last issued its quarterly earnings data 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 Inflows and Outflows

A number of large investors have recently made changes to their positions in EVMN. Capricorn Fund Managers Ltd acquired a new position in shares of Evommune during the fourth quarter valued at about $1,027,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Evommune during the fourth quarter valued at about $34,000. Sectoral Asset Management Inc. acquired a new position in shares of Evommune during the fourth quarter valued at about $10,084,000. Geode Capital Management LLC acquired a new position in shares of Evommune during the fourth quarter valued at about $1,881,000. Finally, Seven Grand Managers LLC bought a new stake in Evommune in the fourth quarter valued at about $1,284,000.

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.