Evommune’s (EVMN) “Buy” Rating Reaffirmed at HC Wainwright

Evommune (NYSE:EVMN)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They currently have a $50.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 119.92% from the company’s previous close.

Several other equities research analysts have also commented on the stock. Clear Str raised shares of Evommune to a “strong-buy” rating in a report on Tuesday, March 17th. Weiss Ratings assumed coverage on shares of Evommune in a report on Tuesday, February 3rd. They issued a “sell (e)” rating for the company. Morgan Stanley boosted their price target on shares of Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Stifel Nicolaus assumed coverage on shares of Evommune in a report on Friday, May 1st. They set a “buy” rating and a $54.00 target price for the company. Finally, Evercore reaffirmed an “outperform” rating and set a $55.00 target price on shares of Evommune in a report on Tuesday, February 10th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $49.25.

Evommune Stock Performance

EVMN opened at $22.74 on Tuesday. The company has a fifty day moving average price of $24.18. Evommune has a 1 year low of $13.89 and a 1 year high of $33.20. The firm has a market cap of $818.95 million and a PE ratio of -2.39.

Evommune (NYSE:EVMN) last posted its earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.19. Analysts forecast that Evommune will post -2.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Evommune

A number of large investors have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Evommune by 928.3% during the first quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock worth $694,000 after buying an additional 27,264 shares in the last quarter. Stempoint Capital LP grew its holdings in shares of Evommune by 184.1% in the first quarter. Stempoint Capital LP now owns 193,777 shares of the company’s stock valued at $4,385,000 after purchasing an additional 125,581 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Evommune in the first quarter valued at about $20,615,000. Eversept Partners LP purchased a new stake in shares of Evommune in the first quarter valued at about $1,257,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Evommune by 25.3% in the first quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock valued at $295,000 after purchasing an additional 2,587 shares during the period.

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.