Evommune (NYSE:EVMN) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Evommune (NYSE:EVMN) from a hold rating to a sell rating in a research report sent to investors on Saturday.

EVMN has been the topic of several other reports. Raymond James Financial began coverage on shares of Evommune in a research note on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price target on the stock. Stifel Nicolaus started coverage on shares of Evommune in a research report on Friday. They set a “buy” rating and a $54.00 target price on the stock. Morgan Stanley restated an “overweight” rating and set a $54.00 target price on shares of Evommune in a research report on Wednesday, February 18th. HC Wainwright lowered their target price on shares of Evommune from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Finally, Evercore restated an “outperform” rating and set a $55.00 target price on shares of Evommune in a research report on Tuesday, February 10th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Evommune currently has a consensus rating of “Buy” and a consensus target price of $49.13.

Evommune Price Performance

Shares of EVMN opened at $24.50 on Friday. The firm has a market capitalization of $882.45 million and a PE ratio of -3.04. Evommune has a 1 year low of $13.89 and a 1 year high of $33.20. The stock’s 50-day simple moving average is $25.08.

Evommune (NYSE:EVMN) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.61). On average, equities research analysts forecast that Evommune will post -2.83 EPS for the current year.

Institutional Investors Weigh In On Evommune

A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new position in Evommune during the 1st quarter valued at about $41,000. China Universal Asset Management Co. Ltd. purchased a new stake in Evommune during the 4th quarter worth about $34,000. The Manufacturers Life Insurance Company purchased a new position in Evommune in the 4th quarter valued at about $179,000. XTX Topco Ltd purchased a new position in Evommune in the 4th quarter valued at about $321,000. Finally, Oxford Asset Management LLP purchased a new position in Evommune in the 4th quarter valued at about $335,000.

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.