Evommune, Inc. (NYSE:EVMN) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Evommune, with nine buy ratings, two strong-buy ratings, three holds and one sell. The average 12-month price target is $41.56, well above the stock’s recent $12.46 price.
• Recent analyst actions were mixed: Morgan Stanley cut its target from $55 to $26, while Needham initiated coverage with a $28 buy target and RBC reduced its target to $29 while maintaining an outperform rating.
• Evommune reported a quarterly loss of $0.89 per share, missing the $0.68 consensus estimate. Shares have declined substantially, trading near their 52-week low of $10.47 versus a high of $33.20.

Evommune, Inc. (NYSE:EVMN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $41.5556.

A number of equities analysts have recently weighed in on EVMN shares. William Blair cut shares of Evommune from an "outperform" rating to a "market perform" rating in a research report on Monday, June 29th. Needham & Company LLC began coverage on Evommune in a report on Wednesday, August 26th. They set a "buy" rating and a $28.00 target price on the stock. Morgan Stanley lowered their price target on Evommune from $55.00 to $26.00 and set an "overweight" rating for the company in a report on Tuesday, June 30th. Raymond James Financial cut Evommune from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, June 29th. Finally, Royal Bank Of Canada lowered their target price on Evommune from $30.00 to $29.00 and set an "outperform" rating for the company in a research note on Friday, August 7th.

Insider Activity at Evommune

In related news, insider Jeegar Pravinkumar Patel sold 1,488 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $22.50, for a total transaction of $33,480.00. Following the sale, the insider directly owned 46,403 shares in the company, valued at $1,044,067.50. This trade represents a 3.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Luis C. Pena sold 7,438 shares of the business's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $22.71, for a total transaction of $168,916.98. Following the completion of the sale, the chief executive officer directly owned 630,458 shares in the company, valued at $14,317,701.18. This represents a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,926 shares of company stock worth $654,997 over the last three months. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Evommune

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVMN. Strs Ohio bought a new position in shares of Evommune in the 1st quarter valued at about $41,000. The Manufacturers Life Insurance Company acquired a new position in shares of Evommune during the 4th quarter worth approximately $179,000. The Manufacturers Life Insurance Company raised its stake in shares of Evommune by 25.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company's stock worth $295,000 after purchasing an additional 2,587 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Evommune in the 4th quarter valued at approximately $321,000. Finally, Oxford Asset Management LLP bought a new position in shares of Evommune in the fourth quarter valued at $335,000.

Evommune Price Performance

Shares of NYSE:EVMN opened at $12.46 on Wednesday. The firm's 50 day simple moving average is $13.60 and its 200 day simple moving average is $20.46. Evommune has a fifty-two week low of $10.47 and a fifty-two week high of $33.20. The company has a market capitalization of $452.17 million and a price-to-earnings ratio of -1.13.

Evommune (NYSE:EVMN - Get Free Report) last issued its quarterly earnings data 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). Equities research analysts expect that Evommune will post -3.16 earnings per share for the current year.

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.

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