William Blair analyst Matt Phipps has maintained their bullish stance on EVMN stock, giving a Buy rating yesterday.
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Matt Phipps has given his Buy rating due to a combination of factors tied to Evommune’s clinical and strategic positioning. He points to the near-term value inflection from three Phase II readouts expected this year across two differentiated assets, which he believes can meaningfully clarify the company’s risk–reward profile. In particular, he highlights the upcoming data for EVO756 in chronic spontaneous urticaria as a key focus for investors, given the unmet need and the mechanistic rationale around MRGPRX2 inhibition.
Phipps also views the broader development plan for EVO756 in atopic dermatitis and the IL‑18 inhibitor EVO301 as expanding Evommune’s opportunity set beyond a single indication. He underscores that the company’s programs are grounded in emerging biology around mast cells, sensory neuron signaling, and IL‑18, which may translate into applications across multiple inflammatory and immune-driven diseases. Finally, he sees the upcoming fireside chat and continued data flow as important catalysts that can raise the company’s visibility with investors and potentially unlock further upside in the stock.
Phipps covers the Healthcare sector, focusing on stocks such as Evommune, Inc., Incyte, and Bristol-Myers Squibb. According to TipRanks, Phipps has an average return of 7.0% and a 50.70% success rate on recommended stocks.
In another report released yesterday, Raymond James also initiated coverage with a Buy rating on the stock with a $40.00 price target.