Evommune, Inc. (NYSE:EVMN) Given Average Recommendation of “Buy” by Brokerages

Shares of Evommune, Inc. (NYSE:EVMN) have been assigned a consensus rating of “Buy” from the fourteen research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $49.25.

A number of analysts recently commented on EVMN shares. Clear Str upgraded Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. Wall Street Zen lowered Evommune from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Evommune in a research report on Tuesday, May 26th. Morgan Stanley boosted their target price on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Oppenheimer began coverage on Evommune in a research report on Tuesday, April 7th. They set an “outperform” rating and a $50.00 target price for the company.

Evommune Stock Up 3.0%

Shares of EVMN stock opened at $21.27 on Friday. The stock has a 50-day moving average price of $23.40 and a 200 day moving average price of $22.23. The firm has a market cap of $766.22 million and a price-to-earnings ratio of -2.24. Evommune has a 12 month low of $13.89 and a 12 month high of $33.20.

Evommune (NYSE:EVMN) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. Sell-side analysts predict that Evommune will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Evommune

In other news, insider Gregory S. Moss sold 14,223 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $22.83, for a total transaction of $324,711.09. Following the completion of the transaction, the insider directly owned 60,835 shares in the company, valued at approximately $1,388,863.05. The trade was a 18.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David E. Cohen sold 6,056 shares of Evommune stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $20.33, for a total value of $123,118.48. Following the transaction, the director owned 17,609 shares in the company, valued at $357,990.97. This trade represents a 25.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 71,928 shares of company stock worth $1,624,145.

Hedge Funds Weigh In On Evommune

Institutional investors have recently modified their holdings of the business. Capricorn Fund Managers Ltd acquired a new position in shares of Evommune during the 4th quarter worth approximately $1,027,000. Seven Grand Managers LLC acquired a new position in shares of Evommune during the 4th quarter worth approximately $1,284,000. EQT Fund Management S.a r.l. acquired a new position in shares of Evommune during the 4th quarter worth approximately $84,395,000. Sectoral Asset Management Inc. acquired a new position in shares of Evommune during the 4th quarter worth approximately $10,084,000. Finally, Eventide Asset Management LLC acquired a new position in shares of Evommune during the 4th quarter worth approximately $16,461,000.

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.