Evommune (NYSE:EVMN) Shares Down 7.7% – Time to Sell?

Evommune, Inc. (NYSE:EVMN)’s stock price fell 7.7% during trading on Thursday . The stock traded as low as $19.61 and last traded at $19.61. 28,283 shares were traded during mid-day trading, a decline of 93% from the average session volume of 382,312 shares. The stock had previously closed at $21.25.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on EVMN shares. Leerink Partners assumed coverage on Evommune in a research note on Monday, December 1st. They issued an “outperform” rating and a $42.00 target price on the stock. William Blair assumed coverage on Evommune in a research report on Monday, December 1st. They issued an “outperform” rating on the stock. Cantor Fitzgerald started coverage on Evommune in a research report on Monday, December 1st. They set an “overweight” rating for the company. Zacks Research upgraded Evommune to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Evercore ISI assumed coverage on shares of Evommune in a research report on Monday, December 1st. They set an “outperform” rating and a $40.00 price target for the company. Two equities research 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $38.60.

Evommune Trading Down 8.8%

The firm has a market cap of $610.86 million and a PE ratio of -2.40.

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 during the quarter, compared to analyst estimates of $10.00 million.

About Evommune

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.