Evommune, Inc.’s Quiet Period Set To End Tomorrow (NYSE:EVMN)

Evommune’s (NYSE:EVMN) quiet period is set to end on Tuesday, December 16th. Evommune had issued 9,375,000 shares in its initial public offering on November 6th. The total size of the offering was $150,000,000 based on an initial share price of $16.00. During Evommune’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

EVMN has been the subject of a number of research reports. Zacks Research upgraded shares of Evommune to a “hold” rating in a report on Tuesday, December 2nd. Cantor Fitzgerald assumed coverage on Evommune in a research report on Monday, December 1st. They issued an “overweight” rating for the company. Wall Street Zen upgraded Evommune from a “sell” rating to a “hold” rating in a report on Sunday. Leerink Partnrs raised Evommune to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Leerink Partners assumed coverage on Evommune in a research report on Monday, December 1st. They set an “outperform” rating and a $42.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $39.33.

Evommune Stock Performance

Shares of Evommune stock opened at $18.00 on Monday. Evommune has a 52 week low of $16.70 and a 52 week high of $24.03.

Evommune (NYSE:EVMN) last announced its quarterly earnings data on Thursday, December 11th. The company reported ($8.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.58) by ($1.49). The company had revenue of $10.00 million during the quarter, compared to analyst estimates 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.