Evommune (NYSE:EVMN) Shares Gap Up – Should You Buy?

Shares of Evommune, Inc. (NYSE:EVMN) gapped up before the market opened on Wednesday . The stock had previously closed at $15.86, but opened at $16.52. Evommune shares last traded at $16.11, with a volume of 8,085 shares.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EVMN. Wall Street Zen upgraded Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. Leerink Partners assumed coverage on shares of Evommune in a research report on Monday, December 1st. They issued an “outperform” rating and a $42.00 price objective on the stock. Zacks Research upgraded shares of Evommune to a “hold” rating in a research note on Tuesday, December 2nd. Evercore ISI began coverage on shares of Evommune in a research note on Monday, December 1st. They issued an “outperform” rating and a $40.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Evommune in a research report on Monday, December 1st. They set an “overweight” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Evommune presently has a consensus rating of “Buy” and a consensus price target of $39.33.

Evommune Stock Down 5.7%

Evommune (NYSE:EVMN) last announced its earnings results on Thursday, December 11th. The company reported ($8.07) EPS for the quarter, missing the consensus estimate of ($6.58) by ($1.49). The firm had revenue of $10.00 million for the quarter, compared to the consensus estimate of $10.00 million.

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.