Wall Street Zen Downgrades Evommune (NYSE:EVMN) to Sell

Key Points

• Wall Street Zen downgraded Evommune (EVMN) from a "hold" to a "sell" in its latest research note.
• Despite the downgrade, the Street consensus remains an overall Buy with an average target price of $49.13 and a breakdown of 3 Strong Buy, 9 Buy, 1 Hold and 1 Sell analyst ratings.
• Evommune recently reported a steep EPS miss (‑$1.43 vs. ‑$0.82 expected), its shares were trading around $24.50, it has a market cap of about $882M and sell‑side forecasts project ~‑2.83 EPS for the year.

Evommune (NYSE:EVMN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently commented on EVMN. Stifel Nicolaus assumed coverage on Evommune in a research report on Friday. They issued a "buy" rating and a $54.00 price target on the stock. Clear Str raised Evommune to a "strong-buy" rating in a research report on Tuesday, March 17th. Weiss Ratings assumed coverage on Evommune in a research report on Tuesday, February 3rd. They issued a "sell (e)" rating on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $54.00 price target on shares of Evommune in a research report on Wednesday, February 18th. Finally, Raymond James Financial started coverage on Evommune in a research report on Wednesday, January 7th. They issued a "strong-buy" rating and a $40.00 price target on the stock. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $49.13.

Evommune Trading Up 2.9%

Shares of NYSE EVMN opened at $24.50 on Friday. The stock has a 50 day simple moving average of $25.08. The company has a market cap of $882.45 million and a P/E ratio of -3.04. Evommune has a 12 month low of $13.89 and a 12 month high of $33.20.

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

Institutional Trading of Evommune

Several institutional investors have recently modified their holdings of the company. EQT Fund Management S.a r.l. acquired a new stake in shares of Evommune during the 4th quarter worth approximately $84,395,000. RA Capital Management L.P. acquired a new stake in shares of Evommune during the 4th quarter worth approximately $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC acquired a new stake in shares of Evommune during the 4th quarter worth approximately $32,989,000. Nan Fung Group Holdings Ltd acquired a new stake in shares of Evommune during the 4th quarter worth approximately $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Evommune during the 4th quarter worth approximately $22,408,000.

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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