Evommune, Inc. (NYSE:EVMN) Given Consensus Recommendation of “Buy” by Brokerages

Evommune, Inc. (NYSE:EVMN) has received a consensus rating of “Buy” from the thirteen research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $48.4286.

EVMN has been the topic of a number of research reports. Weiss Ratings initiated coverage on shares of Evommune in a research note on Tuesday, February 3rd. They set a “sell (e)” rating on the stock. The Goldman Sachs Group raised shares of Evommune to a “buy” rating in a research note on Wednesday, January 7th. Evercore reaffirmed an “outperform” rating and set a $55.00 target price on shares of Evommune in a research note on Tuesday, February 10th. HC Wainwright cut their target price on shares of Evommune from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Finally, Raymond James Financial initiated coverage on shares of Evommune in a research note on Wednesday, January 7th. They set a “strong-buy” rating and a $40.00 target price on the stock.

Institutional Investors Weigh In On Evommune

Several hedge funds have recently bought and sold shares of EVMN. Capricorn Fund Managers Ltd bought a new stake in Evommune during the fourth quarter worth about $1,027,000. China Universal Asset Management Co. Ltd. bought a new stake in Evommune during the fourth quarter worth about $34,000. Sectoral Asset Management Inc. bought a new stake in Evommune during the fourth quarter worth about $10,084,000. Geode Capital Management LLC bought a new stake in Evommune during the fourth quarter worth about $1,881,000. Finally, Seven Grand Managers LLC bought a new stake in Evommune during the fourth quarter worth about $1,284,000.

Evommune Stock Performance

Shares of Evommune stock opened at $23.97 on Thursday. The company has a market cap of $863.29 million and a price-to-earnings ratio of -2.97. Evommune has a 12-month low of $13.89 and a 12-month high of $33.20. The stock has a fifty day moving average price of $25.17.

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61). As a group, sell-side analysts expect that Evommune will post -2.83 earnings per share for the current year.

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.