Evommune (NYSE:EVMN) Trading Up 6.9% – Time to Buy?

Evommune, Inc. (NYSE:EVMN) shares traded up 6.9% during trading on Friday . The stock traded as high as $27.20 and last traded at $26.81. 61,131 shares were traded during mid-day trading, a decline of 92% from the average session volume of 749,881 shares. The stock had previously closed at $25.09.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald began coverage on Evommune in a research report on Monday, December 1st. They set an “overweight” rating on the stock. HC Wainwright increased their price target on Evommune from $35.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Raymond James Financial began coverage on shares of Evommune in a report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $54.00 price target on shares of Evommune in a report on Wednesday, February 18th. Finally, Wall Street Zen raised shares of Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Evommune currently has an average rating of “Moderate Buy” and an average price target of $49.67.

Evommune Price Performance

The company has a market cap of $857.34 million and a price-to-earnings ratio of -3.37. The business has a 50 day moving average price of $21.87.

Evommune (NYSE:EVMN) last announced its quarterly earnings results 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 Trading of Evommune

Several institutional investors and hedge funds have recently made changes to their positions in EVMN. China Universal Asset Management Co. Ltd. purchased a new stake in Evommune in the fourth quarter worth about $34,000. The Manufacturers Life Insurance Company bought a new stake in shares of Evommune in the 4th quarter valued at about $179,000. XTX Topco Ltd bought a new position in shares of Evommune during the fourth quarter valued at approximately $321,000. Oxford Asset Management LLP purchased a new position in Evommune during the fourth quarter valued at approximately $335,000. Finally, State Street Corp bought a new position in Evommune in the fourth quarter worth approximately $539,000.

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.