Royal Bank Of Canada Cuts Evommune (NYSE:EVMN) Price Target to $29.00

Evommune (NYSE:EVMN) had its target price dropped by stock analysts at Royal Bank Of Canada from $30.00 to $29.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 104.51% from the stock’s current price.

Several other brokerages also recently commented on EVMN. Stifel Nicolaus initiated coverage on shares of Evommune in a research report on Friday, May 1st. They issued a “buy” rating and a $54.00 price target for the company. Weiss Ratings cut shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. HC Wainwright reissued a “neutral” rating on shares of Evommune in a research note on Monday. Raymond James Financial lowered Evommune from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, June 29th. Finally, Morgan Stanley decreased their target price on Evommune from $55.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.25.

Evommune Stock Performance

EVMN traded up $0.80 during trading on Friday, reaching $14.18. The company had a trading volume of 216,024 shares, compared to its average volume of 646,882. The firm’s 50-day simple moving average is $16.17 and its 200 day simple moving average is $21.21. The company has a market cap of $510.76 million and a price-to-earnings ratio of -1.49. Evommune has a 12-month low of $10.47 and a 12-month high of $33.20.

Evommune (NYSE:EVMN) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.21). On average, sell-side analysts expect that Evommune will post -2.83 EPS for the current year.

Insider Buying and Selling at Evommune

In other news, insider Janice Suzann Drew sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $22.63, for a total value of $452,600.00. Following the transaction, the insider owned 67,794 shares in the company, valued at approximately $1,534,178.22. The trade was a 22.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeegar Pravinkumar Patel sold 1,488 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $22.50, for a total value of $33,480.00. Following the sale, the insider directly owned 46,403 shares of the company’s stock, valued at $1,044,067.50. This represents a 3.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 100,854 shares of company stock worth $2,279,142. Company insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Evommune

A number of institutional investors and hedge funds have recently made changes to their positions in EVMN. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Evommune in the fourth quarter worth $34,000. Strs Ohio bought a new stake in shares of Evommune in the 1st quarter worth $41,000. The Manufacturers Life Insurance Company purchased a new position in shares of Evommune in the fourth quarter worth $179,000. XTX Topco Ltd purchased a new stake in shares of Evommune during the fourth quarter valued at $321,000. Finally, Oxford Asset Management LLP purchased a new position in Evommune in the 4th quarter worth about $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.