Evommune (NYSE:EVMN) Stock Rated Overweight in New Coverage at Morgan Stanley

Morgan Stanley assumed coverage on shares of Evommune (NYSE:EVMN) in a research report report published on Tuesday morning. The brokerage issued an overweight rating and a $26.00 target price on the stock.

Several other research analysts also recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Evommune in a research note on Friday, September 18th. William Blair lowered shares of Evommune from an “outperform” rating to a “market perform” rating in a report on Monday, June 29th. HC Wainwright reiterated a “neutral” rating on shares of Evommune in a research report on Wednesday, September 9th. Leerink Partners dropped their price objective on shares of Evommune from $28.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Finally, UBS Group initiated coverage on shares of Evommune in a research report on Sunday, October 11th. They issued a “neutral” rating and a $8.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.80.

Evommune Stock Performance

Shares of EVMN opened at $5.18 on Tuesday. Evommune has a 52-week low of $5.09 and a 52-week high of $33.20. The firm has a market cap of $188.17 million and a price-to-earnings ratio of -0.47. The business’s fifty day moving average is $9.74 and its 200-day moving average is $16.03.

Evommune (NYSE:EVMN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.21). As a group, research analysts forecast that Evommune will post -3.29 EPS for the current fiscal year.

Institutional Trading of Evommune

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of Evommune in the first quarter valued at approximately $41,000. The Manufacturers Life Insurance Company boosted its position in Evommune by 25.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,812 shares of the company’s stock worth $295,000 after buying an additional 2,587 shares during the period. Bank of New York Mellon Corp acquired a new stake in Evommune during the 2nd quarter worth approximately $340,000. Squarepoint Ops LLC bought a new stake in Evommune during the 2nd quarter worth approximately $634,000. Finally, Bank of America Corp DE grew its holdings in Evommune by 928.3% during the 1st quarter. Bank of America Corp DE now owns 30,201 shares of the company’s stock worth $694,000 after acquiring an additional 27,264 shares during the last quarter.

Evommune Company Profile

Evommune, Inc is a clinical-stage biopharmaceutical company focused on developing novel therapies for immune-mediated inflammatory diseases. The company’s research is aimed at modulating dysregulated immune pathways that contribute to chronic inflammation, with the goal of developing treatments that may address significant unmet medical needs.

Evommune is advancing a pipeline of investigational small-molecule and biologic therapies for inflammatory conditions. Its development programs are focused primarily on diseases affecting the skin and other tissues, including conditions such as atopic dermatitis and related immune-mediated disorders.