HC Wainwright Reaffirms Neutral Rating for Evommune (NYSE:EVMN)

Evommune (NYSE:EVMN)‘s stock had its “neutral” rating reissued by research analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports.

Other research analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, June 30th. William Blair cut Evommune from an “outperform” rating to a “market perform” rating in a research note on Monday, June 29th. Weiss Ratings lowered shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, June 29th. Wall Street Zen cut shares of Evommune from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Needham & Company LLC began coverage on shares of Evommune in a report on Wednesday, August 26th. They issued a “buy” rating and a $28.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Evommune presently has a consensus rating of “Moderate Buy” and an average price target of $41.56.

Evommune Stock Performance

Shares of EVMN opened at $13.20 on Wednesday. The stock has a 50-day simple moving average of $12.83 and a 200-day simple moving average of $19.82. Evommune has a 1 year low of $10.47 and a 1 year high of $33.20. The stock has a market capitalization of $479.06 million and a PE ratio of -1.20.

Evommune (NYSE:EVMN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.21). Analysts predict that Evommune will post -3.16 EPS for the current year.

Insider Transactions at Evommune

In other Evommune news, Director Arthur S. Kirsch purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was purchased at an average price of $13.30 per share, for a total transaction of $133,000.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at approximately $133,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Janice Drew sold 20,000 shares of Evommune stock in a transaction 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 transaction, the insider owned 67,794 shares in the company, valued at approximately $1,534,178.22. This represents a 22.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,926 shares of company stock valued at $654,997 over the last ninety days. 31.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Evommune

Several hedge funds have recently made changes to their positions in the business. EQT Fund Management S.a r.l. purchased a new position in shares of Evommune during the fourth quarter worth about $84,395,000. RA Capital Management L.P. purchased a new stake in Evommune during the 4th quarter valued at approximately $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new stake in Evommune during the 4th quarter valued at approximately $32,989,000. Nan Fung Group Holdings Ltd acquired a new stake in Evommune during the 4th quarter worth approximately $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in 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.