Evommune, Inc. (NYSE:EVMN) Stock Has Consensus Target Price of $30.80 According to Analysts

Evommune, Inc. (NYSE:EVMN) has been given a consensus rating of “Moderate Buy” by the sixteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $30.80.

Several equities research analysts recently weighed in on EVMN shares. Morgan Stanley began coverage on shares of Evommune in a research report on Tuesday, October 20th. They issued an “overweight” rating and a $26.00 price target on the stock. Raymond James Financial set a $18.00 price objective on shares of Evommune in a research report on Wednesday, September 9th. Weiss Ratings cut shares of Evommune from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, September 11th. Leerink Partners decreased their target price on shares of Evommune from $28.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Evommune in a report on Wednesday, September 9th.

Institutional Investors Weigh In On Evommune

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of Evommune during the 1st quarter valued at approximately $41,000. The Manufacturers Life Insurance Company lifted its position in Evommune by 25.3% in the first quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock worth $295,000 after buying an additional 2,587 shares during the last quarter. Velan Capital Investment Management LP lifted its position in Evommune by 1.1% in the second quarter. Velan Capital Investment Management LP now owns 451,255 shares of the company’s stock worth $5,997,000 after buying an additional 5,000 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Evommune during the first quarter worth $508,000. Finally, Bank of America Corp DE boosted its stake in 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 during the period.

Evommune Trading Up 21.7%

Shares of EVMN stock opened at $6.28 on Thursday. Evommune has a 12-month low of $4.94 and a 12-month high of $33.20. The stock’s 50-day moving average price is $9.07 and its 200-day moving average price is $17.85. The stock has a market capitalization of $227.95 million and a price-to-earnings ratio of -0.57.

Evommune (NYSE:EVMN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.21). As a group, research analysts predict that Evommune will post -3.29 EPS for the current fiscal year.

Evommune Company Profile

Evommune, Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for immune-mediated inflammatory diseases. The company’s research is aimed at modulating dysregulated immune pathways that contribute to chronic inflammation, with the goal of developing treatments that may address significant unmet medical needs.

Evommune is advancing a pipeline of investigational small-molecule and biologic therapies for inflammatory conditions. Its development programs are focused primarily on diseases affecting the skin and other tissues, including conditions such as atopic dermatitis and related immune-mediated disorders.