Evommune (NYSE:EVMN) Stock Price Up 7.7% – Still a Buy?

Evommune, Inc. (NYSE:EVMN)’s stock price shot up 7.7% on Tuesday . The stock traded as high as $18.22 and last traded at $18.09. 37,484 shares changed hands during trading, a decline of 89% from the average session volume of 344,200 shares. The stock had previously closed at $16.80.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EVMN shares. Leerink Partners began coverage on Evommune in a research report on Monday, December 1st. They issued an “outperform” rating and a $42.00 target price on the stock. Raymond James Financial started coverage on Evommune in a report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price objective on the stock. Morgan Stanley initiated coverage on Evommune in a report on Monday, December 1st. They set an “overweight” rating and a $36.00 target price for the company. HC Wainwright began coverage on shares of Evommune in a research note on Tuesday, January 6th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, Cantor Fitzgerald started coverage on Evommune in a research report on Monday, December 1st. They set an “overweight” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $38.60.

Evommune Trading Up 8.3%

The firm has a market cap of $573.66 million and a PE ratio of -2.26. The company’s 50-day moving average is $18.51.

Evommune (NYSE:EVMN) last issued its quarterly earnings results on Thursday, December 11th. The company reported ($8.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.58) by ($1.49). The company had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $10.00 million.

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.