Evommune (NYSE:EVMN) Hits New 12-Month High – Still a Buy?

Evommune, Inc. (NYSE:EVMN) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.00 and last traded at $25.75, with a volume of 7538622 shares changing hands. The stock had previously closed at $16.99.

Analyst Ratings Changes

Several analysts have recently weighed in on EVMN shares. Zacks Research upgraded shares of Evommune to a “hold” rating in a research note on Tuesday, December 2nd. William Blair assumed coverage on shares of Evommune in a research note on Monday, December 1st. They issued an “outperform” rating for the company. Wall Street Zen upgraded Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. HC Wainwright began coverage on Evommune in a research note on Tuesday, January 6th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Oppenheimer initiated coverage on Evommune in a report on Thursday, January 22nd. They issued an “outperform” rating and a $42.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

Evommune Price Performance

The company has a market cap of $769.72 million and a price-to-earnings ratio of -3.03. The stock’s 50 day simple moving average is $18.42.

Evommune (NYSE:EVMN) last announced its 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 for the quarter, compared to the consensus estimate of $10.00 million.

Institutional Trading of Evommune

Several hedge funds have recently made changes to their positions in EVMN. China Universal Asset Management Co. Ltd. bought a new position in shares of Evommune in the fourth quarter worth approximately $34,000. Capricorn Fund Managers Ltd bought a new position in shares of Evommune in the 4th quarter worth $1,027,000. Seven Grand Managers LLC bought a new position in shares of Evommune in the 4th quarter worth $1,284,000. Geode Capital Management LLC purchased a new stake in shares of Evommune during the 4th quarter valued at $1,881,000. Finally, Sectoral Asset Management Inc. bought a new stake in shares of Evommune during the 4th quarter worth $10,084,000.

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.