Evommune, Inc. (NYSE:EVMN) Stock Has Average Target Price of $30.80

Key Points

• Analysts maintain a “Moderate Buy” consensus on Evommune, with 10 buy ratings, one strong buy, four holds and one sell. The average 12-month price target is $30.80, substantially above the stock’s $5.16 opening price.
• Evommune shares have fallen sharply, trading near their 12-month low of $5.09 versus a high of $33.20. The stock is below both its 50-day moving average of $9.92 and 200-day moving average of $16.16.
• The clinical-stage biotechnology company reported a quarterly loss of $0.89 per share, missing the consensus estimate of a $0.68 loss. Several institutional investors recently established or expanded positions, including Janus Henderson, Perceptive Advisors and Defilade Capital.

Evommune, Inc. (NYSE:EVMN - Get Free Report) has earned an average rating of "Moderate Buy" from the sixteen research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $30.80.

A number of analysts have commented on EVMN shares. Leerink Partners cut their price target on shares of Evommune from $28.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, September 9th. Stifel Nicolaus set a $30.00 price objective on shares of Evommune in a research note on Wednesday, September 9th. Raymond James Financial set a $18.00 target price on shares of Evommune in a report on Wednesday, September 9th. Needham & Company LLC began coverage on shares of Evommune in a research note on Wednesday, August 26th. They issued a "buy" rating and a $28.00 target price for the company. Finally, Weiss Ratings downgraded shares of Evommune from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, September 11th.

Hedge Funds Weigh In On Evommune

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

Evommune Stock Down 4.1%

NYSE EVMN opened at $5.16 on Thursday. The firm's 50 day moving average is $9.92 and its 200-day moving average is $16.16. The company has a market capitalization of $187.33 million and a PE ratio of -0.47. 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) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.21). As a group, sell-side analysts expect that Evommune will post -3.29 EPS for the current year.

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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