Evommune, Inc. (NYSE:EVMN) Stock Has Average Target Price of $33.33 According to Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on Evommune, with 10 buy ratings, one strong buy, three holds, and one sell among 15 analysts. The average 12-month price target is $33.33.
• Evommune shares opened at $8.48, down 3.6%, near their 52-week low of $8.25 and well below the 52-week high of $33.20. The company has a market capitalization of approximately $308 million.
• The clinical-stage biotech reported a quarterly loss of $0.89 per share, missing the $0.68 consensus estimate; analysts expect a full-year loss of roughly $3.29 per share. An insider recently bought 10,000 shares, while insiders own 31.1% of the company.

Shares of Evommune, Inc. (NYSE:EVMN - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $33.33.

A number of equities analysts have recently weighed in on the stock. Raymond James Financial set a $18.00 price target on shares of Evommune in a research report on Wednesday, September 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Evommune in a research note on Friday, September 18th. Leerink Partners reduced their target price on Evommune from $28.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, September 9th. Needham & Company LLC began coverage on Evommune in a report on Wednesday, August 26th. They issued a "buy" rating and a $28.00 price target for the company. Finally, Stifel Nicolaus set a $30.00 price target on Evommune in a report on Wednesday, September 9th.

Evommune Trading Down 3.6%

Shares of EVMN stock opened at $8.48 on Friday. Evommune has a 1 year low of $8.25 and a 1 year high of $33.20. The firm's 50 day moving average is $12.05 and its 200-day moving average is $18.32. The firm has a market capitalization of $307.92 million and a price-to-earnings ratio of -0.77.

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

Insider Activity

In other Evommune news, Director Arthur S. Kirsch bought 10,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was acquired at an average cost of $13.30 per share, with a total value of $133,000.00. Following the purchase, the director owned 10,000 shares in the company, valued at $133,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 31.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Squarepoint Ops LLC bought a new stake in Evommune in the 2nd quarter valued at $634,000. Velan Capital Investment Management LP increased its holdings in Evommune by 1.1% during the 2nd quarter. Velan Capital Investment Management LP now owns 451,255 shares of the company's stock worth $5,997,000 after purchasing an additional 5,000 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Evommune during the 2nd quarter worth about $340,000. Defilade Capital Management L.P. raised its stake in shares of Evommune by 215.0% in the 1st quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company's stock valued at $15,601,000 after purchasing an additional 463,171 shares during the period. Finally, Perceptive Advisors LLC bought a new stake in shares of Evommune in the first quarter valued at about $10,308,000.

About Evommune

Evommune, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for immune-mediated inflammatory diseases. The company uses its research platform to identify and advance therapies designed to address underlying mechanisms of chronic inflammation rather than only managing symptoms.

Evommune's pipeline has included soquelitinib, an oral, selective inhibitor of inducible T-cell kinase (ITK) being investigated for inflammatory and immune-related conditions. The company's development programs have focused on diseases such as atopic dermatitis and other dermatologic or systemic inflammatory disorders, although programs and indications may change as clinical research progresses.

The company's activities are centered on drug discovery and clinical development, with potential commercialization dependent on successful clinical trials and regulatory approvals.

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