Evommune (NYSE:EVMN) Coverage Initiated by Analysts at Morgan Stanley

Key Points

• Morgan Stanley initiated coverage of Evommune with an “overweight” rating and a $26 price target, implying 371.7% upside from the prior close.
• Analyst sentiment is broadly positive but varied: Evommune has a consensus “Moderate Buy” rating and an average price target of $30.80, despite ratings ranging from “Strong Buy” to “Sell.”
• Shares rose 4.6% to $5.51, but the clinical-stage biotech reported a quarterly EPS loss of $0.89, missing the $0.68 consensus estimate, and remains near its 12-month low of $5.09.

Morgan Stanley began coverage on shares of Evommune (NYSE:EVMN - Get Free Report) in a research note issued on Tuesday. The firm set an "overweight" rating and a $26.00 price target on the stock. Morgan Stanley's price target would indicate a potential upside of 371.70% from the company's previous close.

Several other analysts have also recently weighed in on the company. William Blair cut Evommune from an "outperform" rating to a "market perform" rating in a report on Monday, June 29th. Needham & Company LLC assumed coverage on shares of Evommune in a research note on Wednesday, August 26th. They issued a "buy" rating and a $28.00 target price on the stock. Stifel Nicolaus set a $30.00 price target on shares of Evommune in a research report on Wednesday, September 9th. UBS Group initiated coverage on shares of Evommune in a research note on Sunday, October 11th. They set a "neutral" rating and a $8.00 price target for the company. Finally, Raymond James Financial set a $18.00 price target on shares of Evommune in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.80.

Evommune Stock Up 4.6%

NYSE:EVMN traded up $0.24 during mid-day trading on Tuesday, reaching $5.51. 13,329 shares of the company were exchanged, compared to its average volume of 661,841. The stock has a market cap of $200.04 million and a PE ratio of -0.50. The company has a fifty day moving average of $10.28 and a 200 day moving average of $16.41. Evommune has a 12 month low of $5.09 and a 12 month high of $33.20.

Evommune (NYSE:EVMN - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.21). On average, equities research analysts anticipate that Evommune will post -3.29 EPS for the current fiscal year.

Institutional Trading of Evommune

Several hedge funds have recently added to or reduced their stakes in EVMN. Strs Ohio bought a new position in Evommune in the first quarter valued at approximately $41,000. The Manufacturers Life Insurance Company increased its position in shares of Evommune by 25.3% during the first quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company's stock worth $295,000 after acquiring an additional 2,587 shares in the last quarter. Velan Capital Investment Management LP raised its holdings in shares of Evommune by 1.1% during the second quarter. Velan Capital Investment Management LP now owns 451,255 shares of the company's stock worth $5,997,000 after acquiring an additional 5,000 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Evommune during the first quarter worth $508,000. Finally, Bank of America Corp DE boosted its stake in Evommune by 928.3% in the 1st quarter. Bank of America Corp DE now owns 30,201 shares of the company's stock worth $694,000 after purchasing an additional 27,264 shares during the period.

About Evommune

Evommune, Inc is a clinical-stage biotechnology company focused on developing new treatments for immune-mediated inflammatory diseases. The company's research is centered on identifying therapies that address the underlying biological mechanisms driving chronic inflammation rather than primarily treating symptoms.

Evommune is advancing a pipeline of investigational medicines designed for conditions with significant unmet medical needs, including dermatologic and other inflammatory disorders.

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