Evommune (NYSE:EVMN) Stock Bumped Up to "Hold" by UBS Group

Key Points

• UBS upgraded Evommune to a “Hold” rating, while analyst sentiment remains a “Moderate Buy” overall with a consensus price target of $30.80.
• Evommune shares opened at $5.87, near their 12-month low of $5.85 and down sharply from the 12-month high of $33.20, with key moving averages also well above the current price.
• The clinical-stage biotechnology company reported a quarterly loss of $0.89 per share, missing the $0.68 consensus estimate; analysts expect a full-year loss of approximately $3.29 per share.

Evommune (NYSE:EVMN - Get Free Report) was upgraded by equities research analysts at UBS Group to a "hold" rating in a note issued to investors on Sunday, Zacks reports.

A number of other analysts also recently issued reports on EVMN. Leerink Partners lowered their price objective on shares of Evommune from $28.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, September 9th. Weiss Ratings downgraded shares of Evommune from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, September 11th. Needham & Company LLC started coverage on shares of Evommune in a report on Wednesday, August 26th. They issued a "buy" rating and a $28.00 target price on the stock. William Blair downgraded Evommune from an "outperform" rating to a "market perform" rating in a report on Monday, June 29th. Finally, Wall Street Zen downgraded shares of Evommune from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.80.

Evommune Trading Down 3.1%

NYSE EVMN opened at $5.87 on Friday. The stock has a 50-day simple moving average of $10.93 and a 200 day simple moving average of $16.89. The company has a market capitalization of $212.85 million and a PE ratio of -0.53. Evommune has a 12 month low of $5.85 and a 12 month high of $33.20.

Evommune (NYSE:EVMN - Get Free Report) last posted its 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). As a group, sell-side analysts predict that Evommune will post -3.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC purchased a new position in shares of Evommune in the first quarter worth about $20,615,000. Defilade Capital Management L.P. lifted its holdings in Evommune by 215.0% during the 1st quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company's stock worth $15,601,000 after purchasing an additional 463,171 shares in the last quarter. Perceptive Advisors LLC purchased a new position in Evommune during the 1st quarter valued at about $10,308,000. Stempoint Capital LP increased its position in shares of Evommune by 184.1% during the first quarter. Stempoint Capital LP now owns 193,777 shares of the company's stock valued at $4,385,000 after buying an additional 125,581 shares during the period. Finally, Eversept Partners LP bought a new stake in Evommune during the 1st quarter worth approximately $1,257,000.

Evommune Company Profile

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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