Evommune’s (EVMN) Outperform Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of Evommune (NYSE:EVMN) in a research note published on Friday morning,Benzinga reports. The brokerage currently has a $48.00 price objective on the stock.

A number of other analysts also recently commented on the company. Raymond James Financial started coverage on Evommune in a research note on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price objective on the stock. Oppenheimer started coverage on Evommune in a report on Tuesday. They issued an “outperform” rating and a $50.00 price objective for the company. Evercore restated an “outperform” rating and issued a $55.00 price objective on shares of Evommune in a report on Tuesday, February 10th. Morgan Stanley restated an “overweight” rating and issued a $54.00 price objective on shares of Evommune in a report on Wednesday, February 18th. Finally, Weiss Ratings started coverage on Evommune in a report on Tuesday, February 3rd. They issued a “sell (e)” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Evommune currently has an average rating of “Buy” and an average target price of $48.43.

Evommune Price Performance

Shares of EVMN stock opened at $25.51 on Friday. Evommune has a 12-month low of $13.89 and a 12-month high of $33.20. The company has a market cap of $918.80 million and a price-to-earnings ratio of -3.16. The business has a 50 day simple moving average of $24.69.

Evommune (NYSE:EVMN) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61).

Institutional Investors Weigh In On Evommune

A number of institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Evommune during the 4th quarter valued at $34,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Evommune during the 4th quarter valued at $179,000. XTX Topco Ltd acquired a new stake in shares of Evommune during the 4th quarter valued at $321,000. Oxford Asset Management LLP acquired a new stake in shares of Evommune during the 4th quarter valued at $335,000. Finally, State Street Corp acquired a new stake in shares of Evommune during the 4th quarter valued at $539,000.

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.