Evommune (NYSE:EVMN) Trading Up 10.2% – Still a Buy?

Evommune, Inc. (NYSE:EVMN) shares were up 10.2% on Wednesday . The company traded as high as $23.04 and last traded at $23.17. Approximately 83,288 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 654,828 shares. The stock had previously closed at $21.02.

Analyst Ratings Changes

Several brokerages have recently issued reports on EVMN. William Blair began coverage on Evommune in a research report on Monday, December 1st. They set an “outperform” rating on the stock. Raymond James Financial started coverage on Evommune in a research note on Wednesday, January 7th. They set a “strong-buy” rating and a $40.00 target price for the company. Wall Street Zen raised Evommune from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Royal Bank Of Canada upgraded shares of Evommune to a “moderate buy” rating in a research report on Tuesday, March 10th. Finally, Clear Str raised shares of Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $47.17.

Evommune Stock Performance

The firm has a market cap of $831.52 million and a PE ratio of -2.86. The business has a 50-day moving average of $23.36.

Evommune (NYSE:EVMN) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61).

Hedge Funds Weigh In On Evommune

A number of hedge funds and other institutional investors have recently modified their holdings of EVMN. China Universal Asset Management Co. Ltd. purchased a new position in Evommune in the 4th quarter worth about $34,000. The Manufacturers Life Insurance Company purchased a new stake in Evommune during the fourth quarter valued at about $179,000. XTX Topco Ltd purchased a new stake in Evommune during the fourth quarter valued at about $321,000. Oxford Asset Management LLP acquired a new position in shares of Evommune in the fourth quarter worth about $335,000. Finally, State Street Corp acquired a new position in shares of Evommune in the fourth quarter worth about $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.