Evommune (NYSE:EVMN) Price Target Cut to $25.00 by Analysts at Needham & Company LLC

Evommune (NYSE:EVMN) had its price objective reduced by Needham & Company LLC from $28.00 to $25.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on EVMN. Stifel Nicolaus set a $30.00 price target on shares of Evommune in a research report on Wednesday, September 9th. Weiss Ratings lowered shares of Evommune from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 11th. Morgan Stanley assumed coverage on shares of Evommune in a report on Tuesday, October 20th. They issued an “overweight” rating and a $26.00 price objective for the company. Raymond James Financial set a $18.00 price objective on Evommune in a research report on Wednesday, September 9th. Finally, Leerink Partners reduced their target price on Evommune from $28.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Evommune has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Evommune Price Performance

Evommune stock traded down $0.37 during mid-day trading on Friday, reaching $7.65. 723,350 shares of the company traded hands, compared to its average volume of 980,729. The firm’s 50 day moving average price is $7.56 and its 200 day moving average price is $17.11. The firm has a market capitalization of $277.58 million and a price-to-earnings ratio of -2.01. Evommune has a 52-week low of $4.94 and a 52-week high of $33.20.

Evommune (NYSE:EVMN) last issued its quarterly earnings data on Thursday, November 12th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.03). On average, sell-side analysts anticipate that Evommune will post -3.35 EPS for the current year.

Institutional Trading of Evommune

A number of hedge funds have recently made changes to their positions in EVMN. Janus Henderson Group PLC purchased a new stake in shares of Evommune in the 1st quarter worth approximately $20,615,000. Defilade Capital Management L.P. raised its stake in Evommune by 215.0% during the first quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company’s stock valued at $15,601,000 after buying an additional 463,171 shares during the last quarter. Perceptive Advisors LLC purchased a new position in Evommune during the first quarter valued at $10,308,000. Velan Capital Investment Management LP boosted its holdings in Evommune by 1.1% in the second quarter. Velan Capital Investment Management LP now owns 451,255 shares of the company’s stock worth $5,997,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Stempoint Capital LP boosted its holdings in Evommune by 184.1% in the first quarter. Stempoint Capital LP now owns 193,777 shares of the company’s stock worth $4,385,000 after acquiring an additional 125,581 shares in the last quarter.

Evommune Company Profile

Evommune is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases. Founded in 2020, the company focuses on biological pathways involved in inflammation and aims to develop treatments for conditions with significant unmet medical needs. Its pipeline includes EVO756, an oral investigational medicine designed to block MRGPRX2, a receptor involved in mast-cell activation. The candidate is being studied for inflammatory skin disorders, including chronic spontaneous urticaria and atopic dermatitis.