Evommune (NYSE:EVMN) Trading Down 4.7% – Time to Sell?

Evommune, Inc. (NYSE:EVMN) traded down 4.7% during mid-day trading on Monday . The stock traded as low as $17.40 and last traded at $17.40. 13,085 shares were traded during mid-day trading, a decline of 91% from the average session volume of 149,121 shares. The stock had previously closed at $18.25.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EVMN. William Blair initiated coverage on shares of Evommune in a research report on Monday, December 1st. They set an “outperform” rating on the stock. Cantor Fitzgerald initiated coverage on shares of Evommune in a research report on Monday, December 1st. They set an “overweight” rating on the stock. Evercore ISI initiated coverage on shares of Evommune in a report on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price for the company. Leerink Partners started coverage on shares of Evommune in a research note on Monday, December 1st. They set an “outperform” rating and a $42.00 target price for the company. Finally, Zacks Research upgraded Evommune to a “hold” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $39.33.

Evommune Stock Performance

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, December 11th. The company reported ($8.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($6.58) by ($1.49). The business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $10.00 million.

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.