Evommune (NYSE:EVMN) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Evommune (NYSE:EVMN) from a sell rating to a hold rating in a research note released on Sunday morning.

A number of other equities analysts also recently issued reports on EVMN. Evercore reissued an “outperform” rating and issued a $55.00 price objective on shares of Evommune in a report on Tuesday, February 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $48.00 price target on shares of Evommune in a research report on Friday, April 10th. Weiss Ratings initiated coverage on shares of Evommune in a research note on Tuesday, February 3rd. They set a “sell (e)” rating on the stock. Clear Str raised shares of Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. Finally, Oppenheimer started coverage on Evommune in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Evommune has a consensus rating of “Buy” and a consensus target price of $49.13.

Evommune Price Performance

Shares of EVMN stock opened at $22.81 on Friday. The business has a 50 day moving average of $24.81. Evommune has a 52 week low of $13.89 and a 52 week high of $33.20. The company has a market capitalization of $821.44 million and a price-to-earnings ratio of -2.83.

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. Sell-side analysts forecast that Evommune will post -3.26 EPS for the current year.

Institutional Investors Weigh In On Evommune

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Evommune during the first quarter valued at approximately $41,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Evommune during the 4th quarter valued at $34,000. The Manufacturers Life Insurance Company bought a new stake in shares of Evommune during the 4th quarter valued at $179,000. XTX Topco Ltd purchased a new position in shares of Evommune during the 4th quarter valued at $321,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Evommune during the 4th quarter valued at $335,000.

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.