Evommune (NYSE:EVMN) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Evommune from “sell” to “hold”, signaling a modestly improved view on the stock.
• Other analysts remain generally bullish: several firms have outperform/buy ratings and price targets in the $48 to $55 range, with MarketBeat showing an overall “Buy” consensus.
• Evommune recently reported a smaller-than-expected quarterly loss of ($0.64) per share, beating estimates, while the clinical-stage biotech continues developing treatments for chronic inflammatory diseases such as CSU, atopic dermatitis, and ulcerative colitis.

Evommune (NYSE:EVMN - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday.

A number of other equities research analysts have also weighed in on the stock. Oppenheimer began coverage on shares of Evommune in a report on Tuesday, April 7th. They set an "outperform" rating and a $50.00 price target for the company. Evercore reaffirmed an "outperform" rating and set a $55.00 price target on shares of Evommune in a report on Tuesday, February 10th. Morgan Stanley reaffirmed an "overweight" rating and set a $54.00 price target on shares of Evommune in a report on Wednesday, February 18th. Weiss Ratings began coverage on shares of Evommune in a report on Tuesday, February 3rd. They set a "sell (e)" rating for the company. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $48.00 price target on shares of Evommune in a report on Friday, April 10th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $49.13.

Evommune Stock Performance

EVMN opened at $22.81 on Friday. The company's fifty day moving average price is $24.81. The firm has a market cap of $821.44 million and a price-to-earnings ratio of -2.83. Evommune has a twelve month low of $13.89 and a twelve month high of $33.20.

Evommune (NYSE:EVMN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.64) earnings per share for the quarter, beating analysts' consensus estimates of ($0.83) by $0.19. Analysts forecast that Evommune will post -3.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in Evommune during the 1st quarter valued at $508,000. Strs Ohio bought a new position in shares of Evommune in the 1st quarter worth about $41,000. XTX Topco Ltd bought a new position in shares of Evommune in the 4th quarter worth about $321,000. Tudor Investment Corp ET AL bought a new position in shares of Evommune in the 4th quarter worth about $547,000. Finally, Sphera Funds Management LTD. bought a new position in shares of Evommune in the 4th quarter worth about $2,844,000.

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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