Evommune (NYSE:EVMN) Shares Up 4.7% – Time to Buy?
by Doug Wharley · The Cerbat GemEvommune, Inc. (NYSE:EVMN – Get Free Report)’s stock price was up 4.7% on Tuesday . The company traded as high as $25.50 and last traded at $25.7390. Approximately 245,786 shares traded hands during trading, a decline of 60% from the average daily volume of 612,964 shares. The stock had previously closed at $24.58.
Analysts Set New Price Targets
EVMN has been the topic of several research reports. Clear Str raised shares of Evommune to a “strong-buy” rating in a research report on Tuesday, March 17th. Royal Bank Of Canada raised shares of Evommune to a “moderate buy” rating in a report on Tuesday, March 10th. HC Wainwright reduced their price objective on shares of Evommune from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. Morgan Stanley restated an “overweight” rating and set a $54.00 target price on shares of Evommune in a research report on Wednesday, February 18th. Finally, Wall Street Zen raised Evommune from a “sell” rating to a “hold” rating in a report on Sunday, December 14th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Evommune presently has an average rating of “Buy” and a consensus price target of $48.50.
View Our Latest Research Report on EVMN
Evommune Stock Up 5.2%
The company has a market cap of $1.03 billion and a PE ratio of -3.54. The firm’s 50-day moving average price is $24.40.
Evommune (NYSE:EVMN – Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported ($1.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61).
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Evommune in the fourth quarter worth $34,000. The Manufacturers Life Insurance Company bought a new stake in Evommune during the fourth quarter valued at $179,000. XTX Topco Ltd purchased a new position in Evommune during the fourth quarter worth about $321,000. Oxford Asset Management LLP bought a new position in Evommune in the 4th quarter worth about $335,000. Finally, State Street Corp bought a new position in Evommune in the 4th quarter worth about $539,000.
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.