Evommune (NYSE:EVMN) Trading 10% Higher – What’s Next?

Evommune, Inc. (NYSE:EVMN)’s stock price rose 10% during trading on Thursday . The company traded as high as $23.33 and last traded at $22.53. Approximately 292,387 shares changed hands during trading, a decline of 15% from the average daily volume of 344,765 shares. The stock had previously closed at $20.49.

Analysts Set New Price Targets

Several equities research analysts have recently commented on EVMN shares. William Blair began coverage on Evommune in a report on Monday, December 1st. They set an “outperform” rating for the company. Zacks Research upgraded shares of Evommune to a “hold” rating in a report on Tuesday, December 2nd. Leerink Partners raised shares of Evommune to a “strong-buy” rating in a research report on Monday, December 1st. The Goldman Sachs Group upgraded shares of Evommune to a “buy” rating in a research report on Wednesday, January 7th. Finally, HC Wainwright assumed coverage on shares of Evommune in a research note on Tuesday, January 6th. They set a “buy” rating and a $35.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $39.17.

Evommune Stock Up 5.9%

The company’s 50-day moving average price is $18.60. The firm has a market capitalization of $683.98 million and a P/E ratio of -2.69.

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

Institutional Trading of Evommune

A hedge fund recently bought a new stake in Evommune stock. Capricorn Fund Managers Ltd bought a new position in Evommune, Inc. (NYSE:EVMN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 60,000 shares of the company’s stock, valued at approximately $1,027,000. Capricorn Fund Managers Ltd owned 0.19% of Evommune at the end of the most recent reporting period.

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.