Evommune (NYSE:EVMN) Price Target Cut to $29.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Evommune’s price target to $29 from $30 but maintained an “outperform” rating, implying approximately 104.5% upside from the stock’s $14.18 price.
• Analyst opinions remain mixed, though Evommune holds a consensus “Moderate Buy” rating with an average target of $43.25. Recent ratings range from Stifel’s “buy” to Wall Street Zen’s “sell.”
• Shares rose 6% in Friday trading, but the company reported a quarterly loss of $0.89 per share, missing estimates by $0.21; analysts expect a full-year loss of $2.83 per share.

Evommune (NYSE:EVMN - Get Free Report) had its price target decreased by Royal Bank Of Canada from $30.00 to $29.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 104.51% from the stock's current price.

Several other equities analysts have also recently weighed in on the company. Wall Street Zen cut Evommune from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. HC Wainwright restated a "neutral" rating on shares of Evommune in a research report on Monday. Stifel Nicolaus assumed coverage on Evommune in a research report on Friday, May 1st. They set a "buy" rating and a $54.00 price target for the company. Weiss Ratings cut shares of Evommune from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, June 29th. Finally, William Blair lowered shares of Evommune from an "outperform" rating to a "market perform" rating in a research report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Evommune presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.25.

Evommune Trading Up 6.0%

Shares of NYSE:EVMN traded up $0.80 during mid-day trading on Friday, reaching $14.18. The company had a trading volume of 216,024 shares, compared to its average volume of 646,882. The company's 50-day moving average price is $16.17 and its 200-day moving average price is $21.21. Evommune has a one year low of $10.47 and a one year high of $33.20. The firm has a market cap of $510.76 million and a price-to-earnings ratio of -1.49.

Evommune (NYSE:EVMN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.21). On average, research analysts anticipate that Evommune will post -2.83 EPS for the current fiscal year.

Insider Activity

In other news, insider Janice Suzann Drew sold 20,000 shares of the business's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $22.63, for a total value of $452,600.00. Following the sale, the insider owned 67,794 shares of the company's stock, valued at approximately $1,534,178.22. The trade was a 22.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur S. Kirsch acquired 10,000 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was purchased at an average price of $13.30 per share, with a total value of $133,000.00. Following the acquisition, the director owned 10,000 shares of the company's stock, valued at approximately $133,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 100,854 shares of company stock valued at $2,279,142 over the last 90 days. Corporate insiders own 31.10% of the company's stock.

Institutional Investors Weigh In On Evommune

Several hedge funds and other institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new position in shares of Evommune during the 4th quarter valued at about $34,000. Strs Ohio acquired a new stake in Evommune during the first quarter valued at approximately $41,000. The Manufacturers Life Insurance Company bought a new stake in Evommune during the fourth quarter worth approximately $179,000. XTX Topco Ltd acquired a new position in Evommune in the fourth quarter worth approximately $321,000. Finally, Oxford Asset Management LLP acquired a new position in Evommune in the fourth quarter worth approximately $335,000.

About Evommune

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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