Sectoral Asset Management Inc. Buys Shares of 589,005 Evommune, Inc. $EVMN

Sectoral Asset Management Inc. bought a new stake in shares of Evommune, Inc. (NYSE:EVMN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 589,005 shares of the company’s stock, valued at approximately $10,084,000. Evommune comprises 8.0% of Sectoral Asset Management Inc.’s holdings, making the stock its largest holding. Sectoral Asset Management Inc. owned about 1.87% of Evommune as of its most recent SEC filing.

Separately, Capricorn Fund Managers Ltd purchased a new stake in shares of Evommune in the 4th quarter worth $1,027,000.

Evommune Price Performance

EVMN opened at $22.74 on Monday. The firm’s 50-day moving average is $24.19. Evommune, Inc. has a 52 week low of $13.89 and a 52 week high of $33.20. The company has a market cap of $818.95 million and a P/E ratio of -2.39.

Evommune (NYSE:EVMN) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.19. As a group, analysts forecast that Evommune, Inc. will post -2.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Oppenheimer assumed coverage on Evommune in a research note on Tuesday, April 7th. They issued an “outperform” rating and a $50.00 price objective for the company. Evercore restated an “outperform” rating and issued a $55.00 price objective on shares of Evommune in a research note on Tuesday, February 10th. Morgan Stanley upped their price objective on Evommune from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of Evommune in a research note on Friday, April 10th. Finally, Stifel Nicolaus assumed coverage on Evommune in a research note on Friday, May 1st. They issued a “buy” rating and a $54.00 price objective for the company. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Evommune currently has a consensus rating of “Buy” and a consensus price target of $49.25.

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.