Evommune (NYSE:EVMN) Announces Quarterly Earnings Results

Evommune (NYSE:EVMN) issued its quarterly earnings results on Thursday. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.83) by $0.19, FiscalAI reports.

Evommune Stock Up 1.4%

Shares of NYSE:EVMN traded up $0.31 during midday trading on Friday, hitting $22.81. 413,176 shares of the stock were exchanged, compared to its average volume of 304,396. Evommune has a 52-week low of $13.89 and a 52-week high of $33.20. The stock’s fifty day moving average is $24.81. The company has a market cap of $821.44 million and a P/E ratio of -2.83.

Analyst Ratings Changes

A number of brokerages recently weighed in on EVMN. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 price target on shares of Evommune in a research note on Friday, April 10th. Stifel Nicolaus began coverage on Evommune in a research note on Friday, May 1st. They issued a “buy” rating and a $54.00 price target on the stock. Evercore reissued an “outperform” rating and issued a $55.00 price target on shares of Evommune in a research note on Tuesday, February 10th. Oppenheimer began coverage on Evommune in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price target on the stock. Finally, Weiss Ratings began coverage on Evommune in a research note on Tuesday, February 3rd. They issued a “sell (e)” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Evommune currently has an average rating of “Buy” and an average price target of $49.13.

Institutional Trading of Evommune

Several hedge funds and other institutional investors have recently modified their holdings of EVMN. Capricorn Fund Managers Ltd purchased a new stake in shares of Evommune during the fourth quarter worth $1,027,000. China Universal Asset Management Co. Ltd. acquired a new position in Evommune in the fourth quarter worth approximately $34,000. Sectoral Asset Management Inc. acquired a new position in Evommune in the fourth quarter worth approximately $10,084,000. Geode Capital Management LLC acquired a new position in Evommune in the fourth quarter worth approximately $1,881,000. Finally, Seven Grand Managers LLC acquired a new position in Evommune in the fourth quarter worth approximately $1,284,000.

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.