Evommune’s (EVMN) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Evommune (NYSE:EVMN) in a research report sent to investors on Wednesday,Benzinga reports.

Several other research analysts also recently issued reports on the company. Needham & Company LLC initiated coverage on Evommune in a research note on Wednesday, August 26th. They set a “buy” rating and a $28.00 price target for the company. Raymond James Financial cut shares of Evommune from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, June 29th. Weiss Ratings downgraded shares of Evommune from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Royal Bank Of Canada cut their target price on shares of Evommune from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. Finally, Morgan Stanley reduced their price target on shares of Evommune from $55.00 to $26.00 and set an “overweight” rating on the stock in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.33.

Evommune Price Performance

Shares of NYSE:EVMN opened at $10.57 on Wednesday. The firm has a market capitalization of $383.59 million and a price-to-earnings ratio of -0.96. The business’s 50 day simple moving average is $12.69 and its 200-day simple moving average is $19.50. Evommune has a 12 month low of $10.30 and a 12 month high of $33.20.

Evommune (NYSE:EVMN) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.21). On average, equities analysts anticipate that Evommune will post -3.16 earnings per share for the current year.

Insider Activity

In other Evommune news, insider Jeegar Patel sold 1,488 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $22.50, for a total transaction of $33,480.00. Following the transaction, the insider owned 46,403 shares of the company’s stock, valued at $1,044,067.50. This represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arthur S. Kirsch purchased 10,000 shares of Evommune stock in a transaction on Tuesday, July 7th. The shares were acquired at an average cost of $13.30 per share, for a total transaction of $133,000.00. Following the purchase, the director owned 10,000 shares in the company, valued at approximately $133,000. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 28,926 shares of company stock worth $654,997 in the last three months. 31.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Evommune

Large investors have recently added to or reduced their stakes in the business. EQT Fund Management S.a r.l. acquired a new stake in Evommune in the 4th quarter worth about $84,395,000. RA Capital Management L.P. acquired a new position in shares of Evommune during the 4th quarter valued at about $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC purchased a new position in shares of Evommune during the 4th quarter worth about $32,989,000. Nan Fung Group Holdings Ltd purchased a new position in shares of Evommune during the 4th quarter worth about $24,670,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Evommune in the fourth quarter worth approximately $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.