Evommune, Inc. (NYSE:EVMN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Evommune, Inc. (NYSE:EVMN) has been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $45.6250.

A number of research analysts recently weighed in on the company. William Blair lowered Evommune from an “outperform” rating to a “market perform” rating in a report on Monday, June 29th. Raymond James Financial downgraded Evommune from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, June 29th. Clear Str raised shares of Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. Morgan Stanley decreased their price objective on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, June 30th. Finally, HC Wainwright lowered shares of Evommune from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 30th.

Evommune Stock Performance

Evommune stock opened at $12.13 on Tuesday. Evommune has a 52 week low of $12.07 and a 52 week high of $33.20. The stock has a market capitalization of $437.10 million and a P/E ratio of -1.28. The stock has a 50-day simple moving average of $20.14 and a 200 day simple moving average of $22.00.

Evommune (NYSE:EVMN) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.19. Research analysts forecast that Evommune will post -2.83 earnings per share for the current year.

Insider Buying and Selling at Evommune

In other Evommune news, insider Janice Suzann Drew sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $22.63, for a total transaction of $452,600.00. Following the completion of the sale, the insider directly owned 67,794 shares in the company, valued at $1,534,178.22. This trade represents a 22.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Luis C. Pena sold 7,438 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $22.71, for a total value of $168,916.98. Following the sale, the chief executive officer owned 630,458 shares of the company’s stock, valued at approximately $14,317,701.18. This represents a 1.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 100,854 shares of company stock worth $2,279,142 in the last ninety days.

Hedge Funds Weigh In On Evommune

A number of large investors have recently made changes to their positions in EVMN. Defilade Capital Management L.P. lifted its holdings in Evommune by 215.0% during the 1st quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company’s stock worth $15,601,000 after purchasing an additional 463,171 shares during the last quarter. Perceptive Advisors LLC acquired a new position in Evommune in the 1st quarter valued at $10,308,000. Bank of America Corp DE increased its position in Evommune by 928.3% during the 1st quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock worth $694,000 after buying an additional 27,264 shares during the period. Stempoint Capital LP increased its position in Evommune by 184.1% during the 1st quarter. Stempoint Capital LP now owns 193,777 shares of the company’s stock worth $4,385,000 after buying an additional 125,581 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Evommune during the first quarter worth $20,615,000.

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.