Evommune, Inc. (NYSE:EVMN) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Evommune, Inc. (NYSE:EVMN) have received an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $33.33.

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Evommune from $29.00 to $21.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. HC Wainwright restated a “neutral” rating on shares of Evommune in a research note on Wednesday, September 9th. Stifel Nicolaus set a $30.00 target price on shares of Evommune in a report on Wednesday, September 9th. Weiss Ratings cut shares of Evommune from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 11th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Evommune in a research note on Friday, September 18th.

Evommune Stock Performance

Shares of NYSE EVMN opened at $7.16 on Friday. Evommune has a fifty-two week low of $6.99 and a fifty-two week high of $33.20. The company has a 50 day simple moving average of $11.76 and a two-hundred day simple moving average of $17.85. The company has a market capitalization of $259.84 million and a price-to-earnings ratio of -0.65.

Evommune (NYSE:EVMN) last issued its quarterly 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). On average, analysts forecast that Evommune will post -3.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Evommune news, Director Arthur S. Kirsch bought 10,000 shares of Evommune stock in a transaction on Tuesday, July 7th. The stock was acquired at an average price of $13.30 per share, with a total value of $133,000.00. Following the acquisition, the director owned 10,000 shares in the company, valued at approximately $133,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Evommune

Several institutional investors have recently modified their holdings of EVMN. Strs Ohio bought a new stake in Evommune in the 1st quarter worth about $41,000. The Manufacturers Life Insurance Company lifted its stake in shares of Evommune by 25.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock worth $295,000 after purchasing an additional 2,587 shares during the period. Bank of New York Mellon Corp bought a new position in Evommune in the first quarter worth approximately $508,000. Bank of America Corp DE boosted its stake in shares of Evommune by 928.3% during the 1st quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock worth $694,000 after acquiring an additional 27,264 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Evommune during the 2nd quarter worth $634,000.

About Evommune

Evommune, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for immune-mediated inflammatory diseases. The company uses its research platform to identify and advance therapies designed to address underlying mechanisms of chronic inflammation rather than only managing symptoms.

Evommune’s pipeline has included soquelitinib, an oral, selective inhibitor of inducible T-cell kinase (ITK) being investigated for inflammatory and immune-related conditions. The company’s development programs have focused on diseases such as atopic dermatitis and other dermatologic or systemic inflammatory disorders, although programs and indications may change as clinical research progresses.

The company’s activities are centered on drug discovery and clinical development, with potential commercialization dependent on successful clinical trials and regulatory approvals.