Evommune (NYSE:EVMN) Posts Quarterly Earnings Results, Misses Expectations By $0.61 EPS

Evommune (NYSE:EVMN) released its quarterly earnings results on Thursday. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61), Zacks reports.

Evommune Trading Up 7.9%

NYSE:EVMN traded up $1.97 during trading hours on Friday, reaching $27.06. The stock had a trading volume of 81,151 shares, compared to its average volume of 750,230. 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 $21.87. The firm has a market capitalization of $852.93 million and a PE ratio of -3.35.

Analyst Ratings Changes

EVMN has been the topic of several recent analyst reports. Leerink Partners started coverage on shares of Evommune in a research report on Monday, December 1st. They set an “outperform” rating and a $42.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and set a $54.00 price target on shares of Evommune in a report on Wednesday, February 18th. Raymond James Financial started coverage on Evommune in a research note on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price objective for the company. Cantor Fitzgerald assumed coverage on Evommune in a research report on Monday, December 1st. They set an “overweight” rating for the company. Finally, Wall Street Zen raised shares of Evommune from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Evommune currently has an average rating of “Moderate Buy” and an average price target of $49.67.

Institutional Investors Weigh In On Evommune

Institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in Evommune during the fourth quarter worth about $321,000. Tudor Investment Corp ET AL bought a new position in Evommune in the 4th quarter worth approximately $547,000. Sphera Funds Management LTD. purchased a new position in Evommune in the 4th quarter valued at approximately $2,844,000. RTW Investments LP bought a new stake in Evommune during the 4th quarter valued at $21,976,000. Finally, Oxford Asset Management LLP bought a new stake in Evommune during the 4th quarter valued at $335,000.

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.