Evommune (NYSE:EVMN) Releases Quarterly Earnings Results

Evommune (NYSE:EVMN) released its quarterly earnings results on Thursday. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.03), FiscalAI reports.

Evommune Price Performance

NYSE EVMN traded up $0.05 during trading hours on Friday, reaching $8.07. 242,618 shares of the company’s stock traded hands, compared to its average volume of 691,548. Evommune has a 52-week low of $4.94 and a 52-week high of $33.20. The firm has a market cap of $292.88 million and a PE ratio of -0.73. The firm has a 50-day simple moving average of $7.64 and a 200 day simple moving average of $17.17.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Evommune in a research report on Friday, September 18th. Stifel Nicolaus set a $30.00 price objective on Evommune in a report on Wednesday, September 9th. Raymond James Financial set a $18.00 price objective on Evommune in a report on Wednesday, September 9th. Leerink Partners lowered their target price on Evommune from $28.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Finally, Weiss Ratings cut Evommune from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.80.

Institutional Investors Weigh In On Evommune

A number of institutional investors have recently modified their holdings of EVMN. The Manufacturers Life Insurance Company lifted its holdings in shares of Evommune by 25.3% during the first quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock valued at $295,000 after purchasing an additional 2,587 shares in the last quarter. Velan Capital Investment Management LP grew its stake in shares of 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 during the period. Alps Advisors Inc. raised its holdings in shares of Evommune by 30.6% during the third quarter. Alps Advisors Inc. now owns 47,737 shares of the company’s stock valued at $394,000 after purchasing an additional 11,179 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Evommune during the first quarter valued at approximately $508,000. Finally, Bank of America Corp DE raised its holdings in shares of Evommune by 928.3% during the first quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock valued at $694,000 after purchasing an additional 27,264 shares during the last quarter.

About Evommune

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.