Evommune (NYSE:EVMN) Sets New 1-Year High – Here’s What Happened

Shares of Evommune, Inc. (NYSE:EVMN) reached a new 52-week high on Tuesday . The company traded as high as $30.00 and last traded at $25.75, with a volume of 7538622 shares trading hands. The stock had previously closed at $16.99.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Raymond James Financial began coverage on shares of Evommune in a research report on Wednesday, January 7th. They set a “strong-buy” rating and a $40.00 price target on the stock. William Blair initiated coverage on Evommune in a research note on Monday, December 1st. They set an “outperform” rating for the company. Cantor Fitzgerald began coverage on Evommune in a research note on Monday, December 1st. They issued an “overweight” rating on the stock. Zacks Research upgraded shares of Evommune to a “hold” rating in a report on Tuesday, December 2nd. Finally, The Goldman Sachs Group upgraded shares of Evommune to a “buy” rating in a research report on Wednesday, January 7th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Evommune presently has an average rating of “Moderate Buy” and an average price target of $39.17.

Evommune Trading Up 43.7%

The company has a market capitalization of $769.72 million and a price-to-earnings ratio of -3.03. The business’s 50 day moving average is $18.42.

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

Institutional Trading of Evommune

Several institutional investors have recently added to or reduced their stakes in EVMN. Seven Grand Managers LLC acquired a new position in shares of Evommune in the 4th quarter worth approximately $1,284,000. Geode Capital Management LLC acquired a new position in Evommune in the fourth quarter valued at $1,881,000. Sectoral Asset Management Inc. bought a new stake in Evommune during the fourth quarter valued at $10,084,000. China Universal Asset Management Co. Ltd. acquired a new stake in Evommune during the 4th quarter worth about $34,000. Finally, Capricorn Fund Managers Ltd bought a new position in shares of Evommune in the 4th quarter worth about $1,027,000.

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.