Evommune (NYSE:EVMN) Shares Up 5.7% – Time to Buy?

Shares of Evommune, Inc. (NYSE:EVMN) shot up 5.7% during mid-day trading on Wednesday . The stock traded as high as $18.88 and last traded at $18.85. 87,974 shares were traded during trading, a decline of 9% from the average session volume of 96,795 shares. The stock had previously closed at $17.84.

Analysts Set New Price Targets

EVMN has been the topic of several research reports. Morgan Stanley assumed coverage on shares of Evommune in a research note on Monday, December 1st. They issued an “overweight” rating and a $36.00 price target on the stock. Leerink Partners initiated coverage on Evommune in a report on Monday, December 1st. They set an “outperform” rating and a $42.00 price target on the stock. Evercore ISI assumed coverage on Evommune in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 price objective for the company. Leerink Partnrs raised Evommune to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Wall Street Zen lowered shares of Evommune from a “hold” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $39.33.

Evommune Stock Performance

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.