Evommune, Inc. (EVMN) AI Stock Analysis

Evommune, Inc. operates as a clinical-stage biotechnology company in the United States. Founded in 2020 and based in Palo Alto, California, the company develops therapies aimed at key drivers of chronic inflammatory diseases. Its clinical development programs focus on chronic spontaneous urticaria (CSU), atopic dermatitis (AD), and ulcerative colitis (UC). Its product pipeline includes EVO756 for the treatment of CSU and AD, as well as EVO301 for the treatment of AD and UC. The company had 48 employees as of its 2025 initial public offering on the NYSE.

Evommune grew annual revenue from $5.0M in FY2023 to $7.0M in FY2024 and $13.0M in FY2025, reflecting a 85.7% revenue growth rate in FY2025 and a two-year revenue CAGR of 61.2%. Gross margin reached 100.0% in FY2025, up from 80.0% in FY2023. However, substantial research and development costs of $74.0M in FY2025 contributed to an operating margin of -623.6% and net income of -$68.9M, or -$9.50 per share. Over the trailing twelve months ending June 30, 2026, revenue stood at $10.0M, operating margin was -1018.9%, and EPS was -$3.68.

As of June 30, 2026, Evommune held $200.8M in cash and short-term investments against total debt of $8.1M, yielding net cash of $192.7M. The balance sheet reflects a current ratio of 11.68 and a debt-to-equity ratio of 0.03 alongside shareholders' equity of $277.6M. Free cash flow was -$76.7M in FY2025, driven by operating cash flow of -$76.4M and capital expenditures of $235,000.

Evommune traded at a price-to-sales multiple of 18.8x and an enterprise value to revenue multiple of 12.6x, compared to the median of its US-listed Healthcare peers of 4.1x sales. Its price-to-book ratio stood at 1.1x with a market capitalization of $187.6M. The stock's year-to-date return was -69.8%, closing at $5.17 on October 16, 2026, which sat 71.9% below its 200-day average. Over the past year, the S&P 500 returned 16.8%.

Wall Street coverage includes 5 Strong Buy, 4 Buy, and 3 Hold ratings, with 0 Sell or Strong Sell ratings. The mean price target is $22.33, representing a 332.0% premium over the last close of $5.17. For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$3.48 and revenue of $0. For the following fiscal year, 12 analysts project revenue of $250,000 and an EPS of -$3.56. Evommune beat EPS estimates in 2 of the last 4 quarters, with next earnings scheduled for December 10, 2026.

This page is an AI-written research summary of Evommune, Inc. (EVMN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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