Evommune (NYSE:EVMN) Trading Up 10.2% – Still a Buy?

Evommune, Inc. (NYSE:EVMN) shares traded up 10.2% on Wednesday . The stock traded as high as $23.04 and last traded at $23.17. 83,288 shares changed hands during trading, a decline of 87% from the average session volume of 654,828 shares. The stock had previously closed at $21.02.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Zacks Research raised Evommune to a “hold” rating in a report on Tuesday, December 2nd. Morgan Stanley restated an “overweight” rating and set a $54.00 price objective on shares of Evommune in a research report on Wednesday, February 18th. The Goldman Sachs Group upgraded Evommune to a “buy” rating in a research note on Wednesday, January 7th. Cantor Fitzgerald assumed coverage on Evommune in a research report on Monday, December 1st. They issued an “overweight” rating on the stock. Finally, HC Wainwright cut their target price on Evommune from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $47.17.

Evommune Price Performance

The firm has a market cap of $831.52 million and a price-to-earnings ratio of -2.86. The company has a 50-day moving average of $23.36.

Evommune (NYSE:EVMN) last posted 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).

Institutional Investors Weigh In On Evommune

Several institutional investors have recently bought and sold shares of EVMN. China Universal Asset Management Co. Ltd. bought a new position in Evommune in the 4th quarter valued at about $34,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Evommune in the 4th quarter worth approximately $179,000. XTX Topco Ltd acquired a new stake in shares of Evommune in the 4th quarter worth approximately $321,000. Oxford Asset Management LLP bought a new position in shares of Evommune in the fourth quarter valued at approximately $335,000. Finally, State Street Corp acquired a new position in shares of Evommune during the fourth quarter valued at approximately $539,000.

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.