Evommune price target lowered to $23 from $28 at Clear Street

Clear Street lowered the firm’s price target on Evommune (EVMN) to $23 from $28 and keeps a Buy rating on the shares. The firm has updated its model after yesterday’s Phase 2b EVO756 readout in moderate-to-severe atopic dermatitis – AD – that did not meet primary and secondary endpoints, and the company’s decision to discontinue development in that indication, the analyst tells investors in a research note.

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