Evommune (NYSE:EVMN) Coverage Initiated by Analysts at Morgan Stanley

Research analysts at Morgan Stanley assumed coverage on shares of Evommune (NYSE:EVMN) in a research note issued to investors on Tuesday. The firm set an “overweight” rating and a $26.00 price target on the stock. Morgan Stanley’s target price points to a potential upside of 371.70% from the company’s current price.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada lowered their price objective on shares of Evommune from $29.00 to $21.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Needham & Company LLC assumed coverage on shares of Evommune in a report on Wednesday, August 26th. They set a “buy” rating and a $28.00 target price for the company. UBS Group assumed coverage on shares of Evommune in a report on Sunday, October 11th. They set a “neutral” rating and a $8.00 target price for the company. Raymond James Financial set a $18.00 target price on shares of Evommune in a research report on Wednesday, September 9th. Finally, Leerink Partners lowered their price target on shares of Evommune from $28.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Evommune has an average rating of “Moderate Buy” and an average target price of $30.80.

Evommune Stock Up 4.6%

Shares of NYSE:EVMN traded up $0.24 during mid-day trading on Tuesday, reaching $5.51. 13,329 shares of the stock were exchanged, compared to its average volume of 661,841. The stock’s 50 day simple moving average is $10.28 and its 200-day simple moving average is $16.41. Evommune has a one year low of $5.09 and a one year high of $33.20. The company has a market cap of $200.04 million and a P/E ratio of -0.50.

Evommune (NYSE:EVMN) last released its 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). Analysts anticipate that Evommune will post -3.29 EPS for the current fiscal year.

Institutional Trading of Evommune

Several institutional investors and hedge funds have recently added to or reduced their stakes in EVMN. Strs Ohio acquired a new stake in Evommune in the first quarter valued at $41,000. The Manufacturers Life Insurance Company grew its position in shares of Evommune by 25.3% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock valued at $295,000 after acquiring an additional 2,587 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Evommune during the 2nd quarter worth about $340,000. Squarepoint Ops LLC acquired a new position in shares of Evommune during the 2nd quarter worth about $634,000. Finally, Bank of America Corp DE increased its stake in shares of Evommune by 928.3% during the 1st quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock worth $694,000 after purchasing an additional 27,264 shares during the last quarter.

About Evommune

Evommune, Inc is a clinical-stage biotechnology company focused on developing new treatments for immune-mediated inflammatory diseases. The company’s research is centered on identifying therapies that address the underlying biological mechanisms driving chronic inflammation rather than primarily treating symptoms.

Evommune is advancing a pipeline of investigational medicines designed for conditions with significant unmet medical needs, including dermatologic and other inflammatory disorders.