Evommune (NYSE:EVMN) Trading 5.3% Higher – Time to Buy?

Evommune, Inc. (NYSE:EVMN) traded up 5.3% on Monday . The stock traded as high as $18.36 and last traded at $18.12. 15,446 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 146,364 shares. The stock had previously closed at $17.21.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EVMN. Leerink Partners started coverage on Evommune in a report on Monday, December 1st. They issued an “outperform” rating and a $42.00 price objective on the stock. William Blair initiated coverage on shares of Evommune in a research note on Monday, December 1st. They issued an “outperform” rating on the stock. Evercore ISI started coverage on shares of Evommune in a research note on Monday, December 1st. They set an “outperform” rating and a $40.00 price objective for the company. Morgan Stanley initiated coverage on Evommune in a report on Monday, December 1st. They issued an “overweight” rating and a $36.00 target price for the company. Finally, Wall Street Zen raised shares of Evommune from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $39.33.

Evommune Stock Performance

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, December 11th. The company reported ($8.07) EPS for the quarter, missing the consensus estimate of ($6.58) by ($1.49). The firm had revenue of $10.00 million during the quarter, compared to analyst estimates of $10.00 million.

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.