Royal Bank Of Canada Lowers Evommune (NYSE:EVMN) Price Target to $21.00

Evommune (NYSE:EVMN) had its target price lowered by investment analysts at Royal Bank Of Canada from $29.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 88.59% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, June 29th. William Blair cut shares of Evommune from an “outperform” rating to a “market perform” rating in a report on Monday, June 29th. Wall Street Zen cut shares of Evommune from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. HC Wainwright reissued a “neutral” rating on shares of Evommune in a research report on Wednesday. Finally, Needham & Company LLC assumed coverage on Evommune in a research note on Wednesday, August 26th. They issued a “buy” rating and a $28.00 price objective for the company. Two investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $40.67.

Evommune Price Performance

EVMN stock opened at $11.13 on Wednesday. Evommune has a 1 year low of $10.47 and a 1 year high of $33.20. The company has a market cap of $404.09 million and a P/E ratio of -1.03. The stock’s fifty day moving average price is $12.83 and its 200-day moving average price is $19.82.

Evommune (NYSE:EVMN) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.21). As a group, analysts expect that Evommune will post -3.16 earnings per share for the current year.

Insider Activity

In other news, insider Jeegar Patel sold 1,488 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $22.50, for a total transaction of $33,480.00. Following the sale, the insider directly owned 46,403 shares in the company, valued at $1,044,067.50. This trade represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the insider owned 67,794 shares in the company, valued at approximately $1,534,178.22. This trade represents a 22.78% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 28,926 shares of company stock valued at $654,997. 31.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Evommune

Several large investors have recently made changes to their positions in the business. Sectoral Asset Management Inc. purchased a new stake in shares of Evommune during the fourth quarter worth about $10,084,000. Geode Capital Management LLC purchased a new stake in Evommune during the 4th quarter valued at approximately $1,881,000. Seven Grand Managers LLC bought a new stake in shares of Evommune during the fourth quarter valued at approximately $1,284,000. Goldman Sachs Group Inc. purchased a new stake in Evommune in the 4th quarter worth $1,056,000. Finally, TD Asset Management Inc bought a new position in shares of Evommune during the 4th quarter valued at about $764,000.

Evommune Company Profile

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.