HC Wainwright Issues Pessimistic Forecast for Evommune (NYSE:EVMN) Stock Price

Evommune (NYSE:EVMN) had its price target reduced by equities research analysts at HC Wainwright from $65.00 to $50.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 114.45% from the company’s current price. HC Wainwright also issued estimates for Evommune’s FY2027 earnings at ($3.30) EPS.

Several other research analysts have also recently commented on EVMN. The Goldman Sachs Group upgraded Evommune to a “buy” rating in a research note on Wednesday, January 7th. Evercore restated an “outperform” rating and set a $55.00 price objective on shares of Evommune in a report on Tuesday, February 10th. Raymond James Financial initiated coverage on Evommune in a research report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and set a $54.00 target price on shares of Evommune in a research note on Wednesday, February 18th. Finally, Oppenheimer began coverage on shares of Evommune in a research report on Thursday, January 22nd. They set an “outperform” rating and a $42.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $47.17.

Evommune Price Performance

Evommune stock opened at $23.32 on Wednesday. Evommune has a 12-month low of $13.89 and a 12-month high of $33.20. The stock has a market cap of $839.81 million and a P/E ratio of -2.89. The business’s fifty day moving average price is $23.26.

Evommune (NYSE:EVMN) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($1.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61).

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. EQT Fund Management S.a r.l. bought a new position in Evommune during the 4th quarter worth approximately $84,395,000. RA Capital Management L.P. acquired a new position in shares of Evommune in the 4th quarter worth approximately $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC bought a new stake in shares of Evommune in the 4th quarter valued at approximately $32,989,000. Nan Fung Group Holdings Ltd acquired a new stake in shares of Evommune during the 4th quarter valued at approximately $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Evommune during the 4th quarter valued at 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.