Evommune (NYSE:EVMN) Earns Buy Rating from Analysts at Stifel Nicolaus

Equities researchers at Stifel Nicolaus began coverage on shares of Evommune (NYSE:EVMN) in a report issued on Friday. The firm set a “buy” rating and a $54.00 price target on the stock. Stifel Nicolaus’ target price indicates a potential upside of 127.58% from the company’s current price.

A number of other equities research analysts have also commented on EVMN. Clear Str raised shares of Evommune to a “strong-buy” rating in a research note on Tuesday, March 17th. The Goldman Sachs Group upgraded shares of Evommune to a “buy” rating in a report on Wednesday, January 7th. Oppenheimer began coverage on shares of Evommune in a research report on Tuesday, April 7th. They set an “outperform” rating and a $50.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and set a $54.00 price target on shares of Evommune in a report on Wednesday, February 18th. Finally, Weiss Ratings started coverage on Evommune in a research report on Tuesday, February 3rd. They issued a “sell (e)” rating 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 assigned a Sell rating to the company. According to MarketBeat.com, Evommune presently has an average rating of “Buy” and an average target price of $49.13.

Evommune Price Performance

Shares of Evommune stock opened at $23.73 on Friday. The business’s 50-day moving average price is $25.08. The firm has a market capitalization of $854.68 million and a P/E ratio of -2.94. Evommune has a 12-month low of $13.89 and a 12-month high of $33.20.

Evommune (NYSE:EVMN) last issued its earnings results on Thursday, March 5th. The company reported ($1.43) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.61). On average, research analysts forecast that Evommune will post -2.83 earnings per share for the current year.

Hedge Funds Weigh In On Evommune

Several institutional investors have recently added to or reduced their stakes in the stock. EQT Fund Management S.a r.l. purchased a new stake in shares of Evommune during the 4th quarter worth approximately $84,395,000. RA Capital Management L.P. purchased a new stake in Evommune in the fourth quarter worth $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new stake in Evommune in the fourth quarter worth $32,989,000. Nan Fung Group Holdings Ltd bought a new stake in shares of Evommune in the fourth quarter valued at $24,670,000. Finally, JPMorgan Chase & Co. bought a new position in Evommune during the fourth quarter worth about $22,408,000.

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.