Evommune (NYSE:EVMN) Trading 10% Higher – Time to Buy?

Shares of Evommune, Inc. (NYSE:EVMN) rose 10% during mid-day trading on Thursday . The company traded as high as $23.33 and last traded at $22.53. Approximately 292,387 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 344,765 shares. The stock had previously closed at $20.49.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EVMN shares. The Goldman Sachs Group raised shares of Evommune to a “buy” rating in a research note on Wednesday, January 7th. Oppenheimer began coverage on Evommune in a research report on Thursday, January 22nd. They set an “outperform” rating and a $42.00 target price for the company. William Blair started coverage on Evommune in a report on Monday, December 1st. They set an “outperform” rating for the company. Zacks Research raised shares of Evommune to a “hold” rating in a report on Tuesday, December 2nd. Finally, Leerink Partners raised shares of Evommune to a “strong-buy” rating in a report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Evommune has an average rating of “Buy” and an average price target of $39.17.

Evommune Price Performance

The company has a market cap of $683.98 million and a price-to-earnings ratio of -2.69. The company has a 50-day simple moving average of $18.60.

Evommune (NYSE:EVMN) last issued its quarterly earnings data on Thursday, December 11th. The company reported ($8.07) earnings per share (EPS) 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.

Institutional Investors Weigh In On Evommune

An institutional investor recently bought a new position in Evommune stock. China Universal Asset Management Co. Ltd. acquired a new stake in Evommune, Inc. (NYSE:EVMN) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,000 shares of the company’s stock, valued at approximately $34,000.

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.