Evommune (NYSE:EVMN) Posts Quarterly Earnings Results

Evommune (NYSE:EVMN) issued its earnings results on Thursday. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.61), Zacks reports.

Evommune Trading Up 5.8%

EVMN opened at $26.55 on Friday. The stock has a market capitalization of $836.86 million and a price-to-earnings ratio of -3.29. Evommune has a 12 month low of $13.89 and a 12 month high of $33.20. The stock has a 50-day moving average of $22.05.

Institutional Investors Weigh In On Evommune

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EVMN. RA Capital Management L.P. purchased a new position in shares of Evommune in the 4th quarter worth approximately $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new stake in Evommune during the 4th quarter valued at $32,989,000. JPMorgan Chase & Co. bought a new stake in Evommune in the fourth quarter worth $22,408,000. RTW Investments LP bought a new stake in Evommune in the fourth quarter worth $21,976,000. Finally, SymBiosis Capital Partners LLC purchased a new position in Evommune during the fourth quarter worth $21,927,000.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EVMN. Raymond James Financial initiated coverage on Evommune in a research note on Wednesday, January 7th. They set a “strong-buy” rating and a $40.00 price target for the company. Leerink Partners started coverage on Evommune in a report on Monday, December 1st. They set an “outperform” rating and a $42.00 price objective on the stock. Oppenheimer assumed coverage on Evommune in a research report on Thursday, January 22nd. They set an “outperform” rating and a $42.00 target price for the company. Morgan Stanley reissued an “overweight” rating and issued a $54.00 target price on shares of Evommune in a report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of Evommune from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.67.

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.