Evommune (NYSE:EVMN – Free Report) had its target price cut by Royal Bank Of Canada from $29.00 to $21.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have an outperform rating on the stock.
Several other brokerages also recently weighed in on EVMN. Wall Street Zen downgraded Evommune from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Raymond James Financial downgraded Evommune from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, June 29th. HC Wainwright reiterated a “neutral” rating on shares of Evommune in a research note on Wednesday. William Blair downgraded Evommune from an “outperform” rating to a “market perform” rating in a research report on Monday, June 29th. Finally, Needham & Company LLC started coverage on Evommune in a research note on Wednesday, August 26th. They issued a “buy” rating and a $28.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Evommune has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.
Check Out Our Latest Stock Analysis on EVMN
Evommune Price Performance
Evommune (NYSE:EVMN – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.21). On average, analysts anticipate that Evommune will post -3.16 EPS for the current year.
Insider Buying and Selling at Evommune
In related news, insider Jeegar Patel sold 1,488 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $22.50, for a total value of $33,480.00. Following the completion of the sale, the insider directly owned 46,403 shares in the company, valued at approximately $1,044,067.50. This represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur S. Kirsch acquired 10,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was bought at an average cost of $13.30 per share, for a total transaction of $133,000.00. Following the completion of the transaction, the director directly owned 10,000 shares of the company’s stock, valued at $133,000. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 28,926 shares of company stock worth $654,997. Insiders own 31.10% of the company’s stock.
Hedge Funds Weigh In On Evommune
A number of institutional investors and hedge funds have recently bought and sold shares of EVMN. Janus Henderson Group PLC purchased a new stake in shares of Evommune during the first quarter valued at approximately $20,615,000. Stempoint Capital LP boosted its stake in shares of Evommune by 184.1% in the first quarter. Stempoint Capital LP now owns 193,777 shares of the company’s stock valued at $4,385,000 after purchasing an additional 125,581 shares during the period. Perceptive Advisors LLC purchased a new position in shares of Evommune in the first quarter valued at $10,308,000. Sofinnova Investments Inc. acquired a new stake in Evommune during the 4th quarter valued at $2,625,000. Finally, Defilade Capital Management L.P. grew its holdings in Evommune by 215.0% during the 1st quarter. Defilade Capital Management L.P. now owns 678,589 shares of the company’s stock valued at $15,601,000 after purchasing an additional 463,171 shares in the last quarter.
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.
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