Evommune (NYSE:EVMN) Research Coverage Started at Needham & Company LLC

Needham & Company LLC started coverage on shares of Evommune (NYSE:EVMN) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $28.00 target price on the stock.

Several other equities research analysts also recently issued reports on the company. Stifel Nicolaus assumed coverage on Evommune in a research report on Friday, May 1st. They set a “buy” rating and a $54.00 target price on the stock. Raymond James Financial lowered shares of Evommune from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, June 29th. Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Royal Bank Of Canada cut their price objective on shares of Evommune from $30.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Finally, Morgan Stanley reduced their price target on Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Evommune currently has an average rating of “Moderate Buy” and a consensus price target of $41.56.

Evommune Trading Down 3.2%

Shares of EVMN opened at $13.05 on Wednesday. Evommune has a 12 month low of $10.47 and a 12 month high of $33.20. The company has a market capitalization of $473.58 million and a price-to-earnings ratio of -1.18. The stock has a 50 day moving average of $14.04 and a 200 day moving average of $20.67.

Evommune (NYSE:EVMN) last released its earnings results on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.21). As a group, equities research analysts predict that Evommune will post -3.16 earnings per share for the current year.

Insider Transactions at Evommune

In other news, Director Arthur S. Kirsch bought 10,000 shares of the stock in a transaction dated Tuesday, July 7th. The stock was bought at an average price of $13.30 per share, for a total transaction of $133,000.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at $133,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Janice Suzann Drew sold 20,000 shares of Evommune stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $22.63, for a total value of $452,600.00. Following the sale, the insider owned 67,794 shares in the company, valued at $1,534,178.22. This represents a 22.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 68,456 shares of company stock worth $1,539,314. 31.10% of the stock is owned by insiders.

Institutional Trading of Evommune

Several hedge funds and other institutional investors have recently made changes to their positions in EVMN. California State Teachers Retirement System raised its stake in Evommune by 27,038.5% during the second quarter. California State Teachers Retirement System now owns 154,961 shares of the company’s stock valued at $2,059,000 after buying an additional 154,390 shares during the last quarter. 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. Bank of New York Mellon Corp purchased a new stake in shares of Evommune in the second quarter worth $340,000. Defilade Capital Management L.P. grew its stake in shares of Evommune by 215.0% in the first quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company’s stock worth $15,601,000 after acquiring an additional 463,171 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new position in shares of Evommune during the first quarter valued at $10,308,000.

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.