Evommune (NYSE:EVMN) Price Target Lowered to $29.00 at Royal Bank Of Canada

Evommune (NYSE:EVMN) had its target price cut by Royal Bank Of Canada from $30.00 to $29.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

EVMN has been the topic of several other reports. Morgan Stanley reduced their target price on Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, June 30th. HC Wainwright reissued a “neutral” rating on shares of Evommune in a research note on Monday, August 3rd. Weiss Ratings cut Evommune from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Stifel Nicolaus started coverage on Evommune in a research note on Friday, May 1st. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Wall Street Zen cut Evommune from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.25.

Evommune Stock Performance

EVMN opened at $14.14 on Friday. The stock has a market capitalization of $509.15 million and a price-to-earnings ratio of -1.28. The company has a fifty day moving average of $16.00 and a 200 day moving average of $21.16. Evommune has a fifty-two week low of $10.47 and a fifty-two week high of $33.20.

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.21). On average, equities research analysts forecast that Evommune will post -2.83 earnings per share for the current year.

Insider Transactions at Evommune

In other news, insider Jeegar Pravinkumar Patel sold 1,488 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $22.50, for a total transaction of $33,480.00. Following the sale, the insider directly owned 46,403 shares in the company, valued at approximately $1,044,067.50. This represents a 3.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Janice Suzann Drew sold 20,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $22.63, for a total transaction of $452,600.00. Following the completion of the transaction, the insider directly owned 67,794 shares of the company’s stock, valued at approximately $1,534,178.22. The trade was a 22.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 100,854 shares of company stock worth $2,279,142. 31.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Evommune

Institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. bought a new position in shares of Evommune during the 4th quarter valued at approximately $34,000. Sectoral Asset Management Inc. bought a new stake in Evommune in the fourth quarter worth $10,084,000. Geode Capital Management LLC bought a new stake in Evommune in the fourth quarter worth $1,881,000. Seven Grand Managers LLC purchased a new position in Evommune during the fourth quarter worth $1,284,000. Finally, Goldman Sachs Group Inc. purchased a new position in Evommune during the fourth quarter worth $1,056,000.

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.