Evommune price target raised to $65 from $35 at H.C. Wainwright

H.C. Wainwright analyst Mitchell Kapoor raised the firm’s price target on Evommune (EVMN) to $65 from $35 and keeps a Buy rating on the shares after the company reported Phase 2a data that leads the firm to see EVO301 “becoming a real threat in atopic dermatitis.” Following the data, the firm is raising its view of the probability of approval for EVO301 to 30% from a prior 20%.