Evommune (NYSE:EVMN) Price Target Cut to $25.00 by Analysts at Needham & Company LLC

Key Points

• Needham cut Evommune’s price target from $28 to $25 but maintained a Buy rating; the new target implies 208.6% upside from the cited share price of $8.10.
• Analyst sentiment is broadly positive: MarketBeat reports a Moderate Buy consensus and an average price target of $30.50, though ratings range from Strong Buy to Sell.
• Evommune reported a quarterly loss of $0.85 per share, missing the consensus estimate of a $0.82 loss.

Evommune (NYSE:EVMN - Get Free Report) had its target price decreased by equities research analysts at Needham & Company LLC from $28.00 to $25.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 208.64% from the company's current price.

Several other equities research analysts have also issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating on shares of Evommune in a research report on Friday, September 18th. HC Wainwright reiterated a "neutral" rating on shares of Evommune in a research report on Wednesday, September 9th. Morgan Stanley started coverage on Evommune in a research note on Tuesday, October 20th. They issued an "overweight" rating and a $26.00 target price on the stock. Weiss Ratings downgraded Evommune from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, September 11th. Finally, Leerink Partners lowered their price target on Evommune from $28.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $30.50.

Evommune Stock Performance

NYSE EVMN traded up $0.08 during trading hours on Friday, hitting $8.10. The company had a trading volume of 289,523 shares, compared to its average volume of 691,707. The firm has a 50 day simple moving average of $7.64 and a 200 day simple moving average of $17.17. Evommune has a 52 week low of $4.94 and a 52 week high of $33.20. The firm has a market capitalization of $293.97 million and a price-to-earnings ratio of -0.73.

Evommune (NYSE:EVMN - Get Free Report) last posted its earnings results on Thursday, November 12th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.03). On average, research analysts forecast that Evommune will post -3.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new stake in Evommune during the 1st quarter valued at approximately $20,615,000. Defilade Capital Management L.P. lifted its position in Evommune by 215.0% during the first quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company's stock valued at $15,601,000 after buying an additional 463,171 shares during the period. Perceptive Advisors LLC bought a new stake in shares of Evommune during the 1st quarter valued at $10,308,000. Velan Capital Investment Management LP boosted its holdings in shares of Evommune by 1.1% during the 2nd quarter. Velan Capital Investment Management LP now owns 451,255 shares of the company's stock valued at $5,997,000 after buying an additional 5,000 shares in the last quarter. Finally, Stempoint Capital LP grew its position in shares of Evommune by 184.1% in the 1st quarter. Stempoint Capital LP now owns 193,777 shares of the company's stock worth $4,385,000 after buying an additional 125,581 shares during the period.

Evommune Company Profile

Evommune is a clinical-stage biotechnology company developing therapies for chronic inflammatory diseases. Founded in 2020, the company focuses on biological pathways involved in inflammation and aims to develop treatments for conditions with significant unmet medical needs. Its pipeline includes EVO756, an oral investigational medicine designed to block MRGPRX2, a receptor involved in mast-cell activation. The candidate is being studied for inflammatory skin disorders, including chronic spontaneous urticaria and atopic dermatitis.

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