Evommune, Inc.’s Quiet Period Will Expire on December 16th (NYSE:EVMN)

Evommune’s (NYSE:EVMN) quiet period is set to expire on Tuesday, December 16th. Evommune had issued 9,375,000 shares in its IPO on November 6th. The total size of the offering was $150,000,000 based on an initial share price of $16.00. During Evommune’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen lowered Evommune from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Evercore ISI started coverage on Evommune in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target for the company. Zacks Research raised shares of Evommune to a “hold” rating in a report on Tuesday, December 2nd. Leerink Partnrs upgraded shares of Evommune to a “strong-buy” rating in a research report on Monday, December 1st. Finally, William Blair started coverage on shares of Evommune in a research report on Monday, December 1st. They set an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $39.33.

Evommune Stock Performance

Shares of NYSE:EVMN opened at $19.65 on Thursday. Evommune has a 52 week low of $16.70 and a 52 week high of $24.03.

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.