Oppenheimer Initiates Coverage on Evommune (NYSE:EVMN)

Analysts at Oppenheimer initiated coverage on shares of Evommune (NYSE:EVMN) in a research note issued to investors on Tuesday. The firm set an “outperform” rating and a $50.00 price target on the stock. Oppenheimer’s target price points to a potential upside of 99.53% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Royal Bank Of Canada upgraded shares of Evommune to a “moderate buy” rating in a report on Tuesday, March 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $54.00 price target on shares of Evommune in a research note on Wednesday, February 18th. Weiss Ratings began coverage on shares of Evommune in a research note on Tuesday, February 3rd. They issued a “sell (e)” rating on the stock. The Goldman Sachs Group raised shares of Evommune to a “buy” rating in a research note on Wednesday, January 7th. Finally, Raymond James Financial began coverage on shares of Evommune in a research note on Wednesday, January 7th. They issued a “strong-buy” rating and a $40.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Evommune has an average rating of “Buy” and a consensus target price of $48.50.

Evommune Stock Performance

Shares of EVMN traded up $0.48 during mid-day trading on Tuesday, reaching $25.06. The company’s stock had a trading volume of 33,338 shares, compared to its average volume of 609,731. The company has a fifty day moving average price of $24.16. The company has a market cap of $902.63 million and a P/E ratio of -3.10. Evommune has a 1 year low of $13.89 and a 1 year high of $33.20.

Evommune (NYSE:EVMN) last released its earnings results on Thursday, March 5th. The company reported ($1.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.61).

Institutional Investors Weigh In On Evommune

A number of large investors have recently bought and sold shares of the business. EQT Fund Management S.a r.l. bought a new stake in Evommune in the fourth quarter worth $84,395,000. RA Capital Management L.P. bought a new stake in Evommune in the fourth quarter worth $59,214,000. Pivotal bioVenture Partners Investment Advisor LLC bought a new stake in Evommune in the fourth quarter worth $32,989,000. Nan Fung Group Holdings Ltd bought a new stake in Evommune in the fourth quarter worth $24,670,000. Finally, JPMorgan Chase & Co. bought a new stake in Evommune in the fourth quarter worth $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.