Evommune (NYSE:EVMN) Stock Price Up 9.3% – Here’s What Happened

Evommune, Inc. (NYSE:EVMN) was up 9.3% during trading on Friday . The stock traded as high as $16.40 and last traded at $16.40. Approximately 6,980 shares traded hands during trading, a decline of 94% from the average daily volume of 121,450 shares. The stock had previously closed at $15.01.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore ISI started coverage on Evommune in a report on Monday, December 1st. They set an “outperform” rating and a $40.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Evommune in a research note on Monday, December 1st. They set an “overweight” rating on the stock. William Blair began coverage on shares of Evommune in a report on Monday, December 1st. They issued an “outperform” rating for the company. Leerink Partnrs raised Evommune to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Wall Street Zen raised Evommune from a “sell” rating to a “hold” rating in a research note on Sunday, December 14th. One equities 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $39.33.

Evommune Stock Up 16.3%

Evommune (NYSE:EVMN) last posted 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 business had revenue of $10.00 million for the quarter, compared to analysts’ expectations of $10.00 million.

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.