Evommune (NYSE:EVMN) Issues Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Evommune (NYSE:EVMN) released its quarterly earnings data on Thursday. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.19, FiscalAI reports.

Evommune Stock Up 1.4%

Shares of EVMN stock traded up $0.31 during mid-day trading on Friday, reaching $22.81. 413,176 shares of the company’s stock traded hands, compared to its average volume of 304,396. Evommune has a 12 month low of $13.89 and a 12 month high of $33.20. The firm’s 50 day moving average price is $24.81. The stock has a market cap of $821.44 million and a price-to-earnings ratio of -2.83.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Evommune during the 4th quarter valued at $34,000. Strs Ohio purchased a new position in shares of Evommune during the 1st quarter valued at $41,000. The Manufacturers Life Insurance Company purchased a new position in shares of Evommune during the 4th quarter valued at $179,000. XTX Topco Ltd purchased a new position in shares of Evommune during the 4th quarter valued at $321,000. Finally, Oxford Asset Management LLP purchased a new position in shares of Evommune during the 4th quarter valued at $335,000.

Wall Street Analysts Forecast Growth

EVMN has been the topic of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $54.00 price objective on shares of Evommune in a research report on Wednesday, February 18th. Stifel Nicolaus started coverage on shares of Evommune in a research note on Friday, May 1st. They set a “buy” rating and a $54.00 target price for the company. HC Wainwright decreased their target price on shares of Evommune from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Wall Street Zen lowered shares of Evommune from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $48.00 target price on shares of Evommune in a research note on Friday, April 10th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $49.13.

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. 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.