Evolus (NASDAQ:EOLS) Rating Increased to Buy at Wall Street Zen

Evolus (NASDAQ:EOLS) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other equities analysts have also recently weighed in on the stock. HC Wainwright cut their target price on shares of Evolus from $20.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, February 3rd. Stifel Nicolaus dropped their price objective on shares of Evolus from $20.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Mizuho set a $15.00 target price on Evolus in a report on Wednesday, February 4th. Needham & Company LLC reiterated a “hold” rating on shares of Evolus in a research report on Wednesday, December 24th. Finally, BTIG Research reissued a “buy” rating and set a $13.00 price target on shares of Evolus in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Evolus Stock Down 2.3%

NASDAQ:EOLS opened at $5.53 on Friday. The business’s 50-day simple moving average is $5.04 and its two-hundred day simple moving average is $6.23. Evolus has a 52 week low of $4.09 and a 52 week high of $13.81. The stock has a market cap of $359.78 million, a PE ratio of -6.83 and a beta of 1.02.

Evolus (NASDAQ:EOLS) last released its earnings results on Tuesday, March 3rd. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.09). The company had revenue of $90.30 million during the quarter, compared to analysts’ expectations of $89.58 million. Sell-side analysts anticipate that Evolus will post -0.61 earnings per share for the current fiscal year.

Insider Transactions at Evolus

In other news, insider David Moatazedi sold 10,539 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $7.15, for a total value of $75,353.85. Following the completion of the sale, the insider directly owned 354,388 shares of the company’s stock, valued at $2,533,874.20. This trade represents a 2.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EOLS. Braidwell LP purchased a new stake in shares of Evolus in the fourth quarter valued at $20,650,000. Frazier Life Sciences Management L.P. purchased a new stake in Evolus in the 2nd quarter worth about $22,431,000. Nantahala Capital Management LLC lifted its stake in Evolus by 33.2% in the third quarter. Nantahala Capital Management LLC now owns 5,726,857 shares of the company’s stock worth $35,163,000 after purchasing an additional 1,428,931 shares during the last quarter. Soleus Capital Management L.P. boosted its position in shares of Evolus by 96.4% during the second quarter. Soleus Capital Management L.P. now owns 2,119,000 shares of the company’s stock valued at $19,516,000 after buying an additional 1,039,842 shares during the period. Finally, Armistice Capital LLC purchased a new stake in shares of Evolus in the fourth quarter worth approximately $6,490,000. 90.69% of the stock is owned by hedge funds and other institutional investors.

Evolus Company Profile

Evolus, Inc is a specialty pharmaceutical company focused on medical aesthetics. Headquartered in Newport Beach, California, Evolus develops and commercializes products designed to enhance facial appearance through minimally invasive procedures. Since its founding in 2017, the company has positioned itself in the fast-growing aesthetic market by partnering with leading manufacturers and leveraging clinical expertise to bring innovative injectables to practitioners and patients.

The company’s flagship offering, Jeuveau (prabotulinumtoxinA-xvfs), is a neuromodulator approved by the U.S.