Analysts Set Evommune, Inc. (NYSE:EVMN) Price Target at $49.25

Shares of Evommune, Inc. (NYSE:EVMN) have received a consensus recommendation of “Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $49.25.

EVMN has been the subject of a number of recent analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of Evommune in a research report on Friday, April 10th. Stifel Nicolaus initiated coverage on Evommune in a research report on Friday, May 1st. They issued a “buy” rating and a $54.00 target price for the company. Wall Street Zen lowered Evommune from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Oppenheimer initiated coverage on Evommune in a research report on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Evommune in a research report on Tuesday, May 26th.

Insider Activity

In other news, Director David E. Cohen sold 6,056 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $20.33, for a total transaction of $123,118.48. Following the completion of the sale, the director owned 17,609 shares of the company’s stock, valued at $357,990.97. This represents a 25.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Luis C. Pena sold 7,438 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $22.71, for a total transaction of $168,916.98. Following the sale, the chief executive officer directly owned 630,458 shares of the company’s stock, valued at $14,317,701.18. The trade was a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 100,854 shares of company stock worth $2,279,142.

Institutional Investors Weigh In On Evommune

Several hedge funds and other institutional investors have recently made changes to their positions in the business. EQT Fund Management S.a r.l. purchased a new stake in shares of Evommune during the 4th quarter valued at about $84,395,000. RA Capital Management L.P. purchased a new stake in shares of Evommune during the 4th quarter valued at about $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new stake in shares of Evommune during the 4th quarter valued at about $32,989,000. Nan Fung Group Holdings Ltd purchased a new stake in shares of Evommune during the 4th quarter valued at about $24,670,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Evommune during the 4th quarter valued at about $22,408,000.

Evommune Stock Performance

Shares of NYSE:EVMN opened at $24.00 on Friday. Evommune has a fifty-two week low of $13.89 and a fifty-two week high of $33.20. The business has a 50-day simple moving average of $23.02 and a two-hundred day simple moving average of $22.29. The firm has a market cap of $864.43 million and a price-to-earnings ratio of -2.53.

Evommune (NYSE:EVMN) last issued its earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. As a group, research analysts predict that Evommune will post -2.85 earnings per share for the current year.

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.