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

Evolus (NASDAQ:EOLS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other research analysts have also commented on EOLS. Needham & Company LLC reaffirmed a “hold” rating on shares of Evolus in a research report on Wednesday, December 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Evolus in a report on Monday, December 22nd. Stifel Nicolaus lowered their target price on shares of Evolus from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, January 13th. BTIG Research reaffirmed a “buy” rating and issued a $13.00 target price on shares of Evolus in a report on Wednesday, March 4th. Finally, HC Wainwright reduced their price target on shares of Evolus from $20.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, February 3rd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Evolus presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Evolus Price Performance

NASDAQ EOLS opened at $5.53 on Friday. The company has a fifty day moving average of $5.04 and a two-hundred day moving average of $6.21. The company has a market capitalization of $359.78 million, a PE ratio of -6.83 and a beta of 1.02. Evolus has a 1 year low of $4.09 and a 1 year high of $13.81.

Evolus (NASDAQ:EOLS) last posted its earnings results on Tuesday, March 3rd. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.09). The firm had revenue of $90.30 million during the quarter, compared to analyst estimates of $89.58 million. On average, research analysts expect that Evolus will post -0.61 earnings per share for the current year.

Insiders Place Their Bets

In other Evolus news, insider David Moatazedi sold 10,539 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $7.15, for a total value of $75,353.85. Following the completion of the transaction, the insider directly owned 354,388 shares of the company’s stock, valued at approximately $2,533,874.20. This trade represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Evolus

Institutional investors have recently modified their holdings of the company. Nantahala Capital Management LLC increased its stake in Evolus by 1.6% in the 4th quarter. Nantahala Capital Management LLC now owns 5,820,649 shares of the company’s stock valued at $38,707,000 after purchasing an additional 93,792 shares in the last quarter. Caligan Partners LP boosted its position in Evolus by 23.8% during the third quarter. Caligan Partners LP now owns 4,138,943 shares of the company’s stock worth $25,413,000 after purchasing an additional 796,973 shares in the last quarter. Vanguard Group Inc. grew its holdings in Evolus by 3.3% in the third quarter. Vanguard Group Inc. now owns 3,428,943 shares of the company’s stock valued at $21,054,000 after purchasing an additional 110,693 shares during the last quarter. Braidwell LP acquired a new stake in Evolus in the fourth quarter valued at $20,650,000. Finally, Frazier Life Sciences Management L.P. purchased a new position in shares of Evolus in the second quarter valued at $22,431,000. Hedge funds and other institutional investors own 90.69% of the company’s stock.

About Evolus

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.