Evommune (NYSE:EVMN) Coverage Initiated by Analysts at Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated coverage on Evommune with a "Buy" rating and a $54 price target, implying roughly a 127.6% upside from the prior close.
• Broad analyst sentiment is positive — MarketBeat shows a consensus rating of Buy (three Strong Buy, nine Buy, one Hold, one Sell) with a consensus target of $49.13, and several firms (Evercore, Morgan Stanley, Goldman Sachs, RBC, Oppenheimer) carrying Outperform/Buy views.
• Shares opened at $23.73 with a market cap of about $855 million, the company has a negative PE, recently missed quarterly EPS (reported -$1.43 vs. estimate -$0.82), and analysts forecast roughly -2.83 EPS for the year.

Investment analysts at Stifel Nicolaus initiated coverage on shares of Evommune (NYSE:EVMN - Get Free Report) in a report issued on Friday. The brokerage set a "buy" rating and a $54.00 price target on the stock. Stifel Nicolaus' target price would indicate a potential upside of 127.58% from the stock's previous close.

EVMN has been the subject of several other research reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $48.00 price target on shares of Evommune in a report on Friday, April 10th. Oppenheimer began coverage on Evommune in a report on Tuesday, April 7th. They set an "outperform" rating and a $50.00 target price on the stock. Evercore reissued an "outperform" rating and issued a $55.00 target price on shares of Evommune in a research note on Tuesday, February 10th. The Goldman Sachs Group raised Evommune to a "buy" rating in a research report on Wednesday, January 7th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $54.00 price objective on shares of Evommune in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $49.13.

Evommune Stock Performance

Shares of NYSE:EVMN opened at $23.73 on Friday. The firm has a market cap of $854.68 million and a PE ratio of -2.94. The business's 50 day simple moving average is $25.08. Evommune has a one year low of $13.89 and a one year high of $33.20.

Evommune (NYSE:EVMN - Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.61). On average, sell-side analysts anticipate that Evommune will post -2.83 EPS for the current year.

Hedge Funds Weigh In On Evommune

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capricorn Fund Managers Ltd acquired a new stake in shares of Evommune during the 4th quarter worth about $1,027,000. China Universal Asset Management Co. Ltd. acquired a new stake in Evommune during the fourth quarter worth approximately $34,000. Sectoral Asset Management Inc. acquired a new position in shares of Evommune in the fourth quarter valued at approximately $10,084,000. Geode Capital Management LLC bought a new position in shares of Evommune during the fourth quarter worth approximately $1,881,000. Finally, Seven Grand Managers LLC bought a new stake in Evommune in the 4th quarter valued at $1,284,000.

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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