Evommune (NYSE:EVMN) Shares Down 4.7% – Here’s What Happened

Evommune, Inc. (NYSE:EVMN)’s stock price fell 4.7% during trading on Monday . The company traded as low as $17.40 and last traded at $17.40. 13,085 shares were traded during mid-day trading, a decline of 91% from the average session volume of 149,121 shares. The stock had previously closed at $18.25.

Wall Street Analysts Forecast Growth

EVMN has been the topic of several research analyst reports. Cantor Fitzgerald began coverage on shares of Evommune in a report on Monday, December 1st. They issued an “overweight” rating on the stock. William Blair started coverage on shares of Evommune in a research note on Monday, December 1st. They issued an “outperform” rating on the stock. Zacks Research upgraded shares of Evommune to a “hold” rating in a report on Tuesday, December 2nd. Evercore ISI initiated coverage on Evommune in a research report on Monday, December 1st. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Leerink Partnrs upgraded Evommune to a “strong-buy” rating in a research note on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $39.33.

Evommune Stock Performance

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