Seven Grand Managers LLC purchased a new stake in Evommune, Inc. (NYSE:EVMN – Free Report) in the fourth quarter, HoldingsChannel reports. The fund purchased 75,000 shares of the company’s stock, valued at approximately $1,284,000.
Other hedge funds have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new stake in Evommune in the 4th quarter valued at $34,000. Capricorn Fund Managers Ltd bought a new stake in Evommune in the 4th quarter valued at $1,027,000. Geode Capital Management LLC bought a new stake in Evommune in the 4th quarter valued at $1,881,000. Finally, Sectoral Asset Management Inc. bought a new stake in Evommune in the 4th quarter valued at $10,084,000.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 price target on shares of Evommune in a report on Friday, April 10th. Morgan Stanley increased their price target on shares of Evommune from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wall Street Zen raised shares of Evommune from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Oppenheimer began coverage on shares of Evommune in a report on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, Stifel Nicolaus began coverage on shares of Evommune in a report on Friday, May 1st. They set a “buy” rating and a $54.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $49.25.
Evommune Stock Up 0.2%
NYSE:EVMN opened at $23.39 on Thursday. The stock’s 50-day simple moving average is $24.20. The company has a market cap of $842.62 million and a P/E ratio of -2.46. Evommune, Inc. has a 52 week low of $13.89 and a 52 week high of $33.20.
Evommune (NYSE:EVMN – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.19. As a group, equities research analysts predict that Evommune, Inc. will post -2.86 earnings per share for the current fiscal year.
Evommune 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.
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