Evommune (NYSE:EVMN) Trading 10% Higher – Here’s Why
by Tristan Rich · The Markets DailyShares of Evommune, Inc. (NYSE:EVMN – Get Free Report) traded up 10% during mid-day trading on Thursday . The stock traded as high as $23.33 and last traded at $22.53. 292,387 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 344,765 shares. The stock had previously closed at $20.49.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on EVMN. Raymond James Financial assumed coverage on Evommune in a report on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price objective for the company. HC Wainwright started coverage on Evommune in a research note on Tuesday, January 6th. They issued a “buy” rating and a $35.00 price target for the company. The Goldman Sachs Group raised Evommune to a “buy” rating in a research report on Wednesday, January 7th. Leerink Partners raised Evommune to a “strong-buy” rating in a report on Monday, December 1st. Finally, William Blair started coverage on shares of Evommune in a research note on Monday, December 1st. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $39.17.
Get Our Latest Stock Report on EVMN
Evommune Price Performance
The company has a fifty day moving average of $18.64. The firm has a market capitalization of $568.31 million and a price-to-earnings ratio of -2.23.
Evommune (NYSE:EVMN – Get Free Report) last released its quarterly earnings data on Thursday, December 11th. The company reported ($8.07) EPS for the quarter, missing analysts’ consensus estimates of ($6.58) by ($1.49). The business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $10.00 million.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Evommune stock. China Universal Asset Management Co. Ltd. acquired a new position in shares of Evommune, Inc. (NYSE:EVMN – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000 shares of the company’s stock, valued at approximately $34,000.
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.