Evommune (NYSE:EVMN) Shares Up 4.7% – Time to Buy?

Evommune, Inc. (NYSE:EVMN) shot up 4.7% during trading on Tuesday . The stock traded as high as $25.50 and last traded at $25.7390. 245,786 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 612,964 shares. The stock had previously closed at $24.58.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EVMN shares. Evercore reiterated an “outperform” rating and issued a $55.00 price target on shares of Evommune in a research note on Tuesday, February 10th. HC Wainwright decreased their price target on shares of Evommune from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Royal Bank Of Canada upgraded shares of Evommune to a “moderate buy” rating in a research note on Tuesday, March 10th. Raymond James Financial started coverage on shares of Evommune in a research note on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price target for the company. Finally, Oppenheimer started coverage on shares of Evommune in a research note on Tuesday. They issued an “outperform” rating and a $50.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $48.50.

Evommune Stock Up 1.6%

The stock has a market cap of $899.26 million and a price-to-earnings ratio of -3.09. The stock’s 50 day moving average price is $24.16.

Evommune (NYSE:EVMN) last released its quarterly earnings data on Thursday, March 5th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61).

Institutional Trading of Evommune

A number of institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in Evommune during the 4th quarter valued at about $34,000. The Manufacturers Life Insurance Company bought a new stake in Evommune during the 4th quarter valued at about $179,000. XTX Topco Ltd bought a new stake in Evommune during the 4th quarter valued at about $321,000. Oxford Asset Management LLP bought a new stake in Evommune during the 4th quarter valued at about $335,000. Finally, State Street Corp bought a new stake in Evommune during the 4th quarter valued at about $539,000.

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.