Evommune (NYSE:EVMN) Announces Quarterly Earnings Results, Misses Expectations By $0.61 EPS

Evommune (NYSE:EVMN) announced its earnings results on Thursday. The company reported ($1.43) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.61), Zacks reports.

Evommune Price Performance

Shares of NYSE EVMN traded up $2.11 on Friday, hitting $27.20. The company had a trading volume of 129,552 shares, compared to its average volume of 750,921. Evommune has a 12-month low of $13.89 and a 12-month high of $33.20. The firm has a market cap of $857.34 million and a price-to-earnings ratio of -3.37. The company has a 50 day moving average price of $21.87.

Analysts Set New Price Targets

A number of analysts have commented on EVMN shares. Weiss Ratings started coverage on shares of Evommune in a research report on Tuesday, February 3rd. They set a “sell (e)” rating for the company. Oppenheimer assumed coverage on shares of Evommune in a research note on Thursday, January 22nd. They set an “outperform” rating and a $42.00 price objective for the company. Wall Street Zen raised Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. HC Wainwright raised their price target on Evommune from $35.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $54.00 price objective on shares of Evommune in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.67.

Institutional Trading of Evommune

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in Evommune in the fourth quarter valued at $321,000. Tudor Investment Corp ET AL bought a new stake in Evommune in the 4th quarter valued at about $547,000. Sphera Funds Management LTD. acquired a new position in Evommune during the 4th quarter valued at about $2,844,000. RTW Investments LP bought a new position in Evommune in the 4th quarter worth about $21,976,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Evommune in the fourth quarter valued at approximately $335,000.

About Evommune

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.