Evommune, Inc. (NYSE:EVMN) Stock Has Average Price Target of $33.33 According to Analysts

Evommune, Inc. (NYSE:EVMN) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $33.33.

EVMN has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Evommune from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 11th. William Blair cut shares of Evommune from an “outperform” rating to a “market perform” rating in a research note on Monday, June 29th. 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. Raymond James Financial set a $18.00 price target on shares of Evommune in a research report on Wednesday, September 9th. Finally, Leerink Partners cut their price objective on Evommune from $28.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th.

Evommune Stock Performance

Shares of EVMN opened at $8.31 on Friday. Evommune has a fifty-two week low of $8.11 and a fifty-two week high of $33.20. The company has a market capitalization of $301.64 million and a P/E ratio of -0.75. The business’s 50-day moving average is $11.91 and its two-hundred day moving average is $18.06.

Evommune (NYSE:EVMN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.21). Analysts forecast that Evommune will post -3.29 EPS for the current year.

Insiders Place Their Bets

In related news, Director Arthur S. Kirsch bought 10,000 shares of the stock in a transaction dated Tuesday, July 7th. The shares were acquired at an average cost of $13.30 per share, for a total transaction of $133,000.00. Following the acquisition, the director directly owned 10,000 shares in the company, valued at approximately $133,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evommune

A number of hedge funds have recently modified their holdings of EVMN. Strs Ohio purchased a new stake in shares of Evommune during the 1st quarter valued at approximately $41,000. The Manufacturers Life Insurance Company grew its holdings in shares of Evommune by 25.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock worth $295,000 after purchasing an additional 2,587 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Evommune during the 1st quarter worth about $508,000. Bank of America Corp DE raised its holdings in Evommune by 928.3% in the 1st quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock valued at $694,000 after buying an additional 27,264 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in Evommune during the second quarter worth about $634,000.

About Evommune

Evommune, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for immune-mediated inflammatory diseases. The company uses its research platform to identify and advance therapies designed to address underlying mechanisms of chronic inflammation rather than only managing symptoms.

Evommune’s pipeline has included soquelitinib, an oral, selective inhibitor of inducible T-cell kinase (ITK) being investigated for inflammatory and immune-related conditions. The company’s development programs have focused on diseases such as atopic dermatitis and other dermatologic or systemic inflammatory disorders, although programs and indications may change as clinical research progresses.

The company’s activities are centered on drug discovery and clinical development, with potential commercialization dependent on successful clinical trials and regulatory approvals.