Shares of Evommune, Inc. (NYSE:EVMN – Get Free Report) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $43.25.
Several research analysts have weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of Evommune from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday. Morgan Stanley decreased their target price on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, June 30th. HC Wainwright restated a “neutral” rating on shares of Evommune in a report on Monday, August 3rd. Raymond James Financial downgraded shares of Evommune from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, June 29th. Finally, Stifel Nicolaus started coverage on Evommune in a report on Friday, May 1st. They set a “buy” rating and a $54.00 price objective for the company.
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Evommune Price Performance
Evommune (NYSE:EVMN – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.21). Equities research analysts expect that Evommune will post -2.83 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CFO Kyle Carver sold 18,175 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $22.84, for a total transaction of $415,117.00. Following the completion of the sale, the chief financial officer directly owned 59,335 shares of the company’s stock, valued at $1,355,211.40. This trade represents a 23.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Janice Suzann Drew sold 20,000 shares of Evommune stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $22.63, for a total value of $452,600.00. Following the sale, the insider owned 67,794 shares of the company’s stock, valued at approximately $1,534,178.22. This represents a 22.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 100,854 shares of company stock worth $2,279,142. Insiders own 31.10% of the company’s stock.
Institutional Trading of Evommune
Institutional investors have recently added to or reduced their stakes in the business. EQT Fund Management S.a r.l. bought a new stake in Evommune in the fourth quarter worth approximately $84,395,000. RA Capital Management L.P. acquired a new position in shares of Evommune during the 4th quarter worth $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC bought a new position in shares of Evommune during the 4th quarter valued at $32,989,000. Nan Fung Group Holdings Ltd bought a new position in shares of Evommune during the 4th quarter valued at $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Evommune in the 4th quarter valued at $22,408,000.
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.
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