Evommune (NYSE:EVMN) Trading Down 4.7% – Here’s What Happened

Evommune, Inc. (NYSE:EVMN)’s stock price fell 4.7% during mid-day trading on Monday . The stock traded as low as $17.40 and last traded at $17.40. 13,085 shares changed hands during trading, a decline of 91% from the average session volume of 149,121 shares. The stock had previously closed at $18.25.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EVMN. Evercore ISI began coverage on Evommune in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 price objective on the stock. Cantor Fitzgerald began coverage on Evommune in a research note on Monday, December 1st. They set an “overweight” rating on the stock. Leerink Partnrs raised Evommune to a “strong-buy” rating in a research note on Monday, December 1st. Wall Street Zen upgraded shares of Evommune from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Finally, William Blair initiated coverage on shares of Evommune in a research report on Monday, December 1st. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Evommune presently has an average rating of “Buy” and an average price target of $39.33.

Evommune Stock Down 1.8%

Evommune (NYSE:EVMN) last released its earnings results on Thursday, December 11th. The company reported ($8.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.58) by ($1.49). The company had revenue of $10.00 million for the quarter, compared to the consensus estimate of $10.00 million.

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.