Evolus (NASDAQ:EOLS) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Evolus (NASDAQ:EOLS) in a research note published on Friday, Benzinga reports. The firm currently has a $22.00 price target on the stock.

Several other brokerages have also commented on EOLS. Cantor Fitzgerald restated an overweight rating on shares of Evolus in a research report on Monday, September 9th. HC Wainwright restated a buy rating and set a $27.00 target price on shares of Evolus in a research report on Thursday, August 1st.

Evolus Trading Down 4.1 %

Shares of Evolus stock opened at $16.77 on Friday. The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 6.26. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -16.88 and a beta of 1.31. Evolus has a 52-week low of $7.44 and a 52-week high of $17.70. The company’s 50-day simple moving average is $13.76 and its 200-day simple moving average is $13.04.

Evolus (NASDAQ:EOLS) last issued its earnings results on Wednesday, July 31st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The firm had revenue of $66.91 million during the quarter, compared to analyst estimates of $65.06 million. As a group, equities research analysts anticipate that Evolus will post -0.64 earnings per share for the current year.

Insider Buying and Selling

In other Evolus news, CMO Tomoko Yamagishi-Dressler sold 5,631 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $15.85, for a total transaction of $89,251.35. Following the completion of the transaction, the chief marketing officer now directly owns 82,375 shares in the company, valued at approximately $1,305,643.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CMO Tomoko Yamagishi-Dressler sold 5,631 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $15.85, for a total value of $89,251.35. Following the completion of the transaction, the chief marketing officer now directly owns 82,375 shares of the company’s stock, valued at $1,305,643.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandra Beaver sold 3,276 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $14.98, for a total transaction of $49,074.48. Following the completion of the transaction, the chief financial officer now directly owns 148,502 shares of the company’s stock, valued at approximately $2,224,559.96. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Evolus

Hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC boosted its stake in Evolus by 166.8% in the 4th quarter. Perceptive Advisors LLC now owns 3,963,424 shares of the company’s stock worth $41,735,000 after buying an additional 2,477,623 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Evolus by 5,627.2% in the second quarter. Assenagon Asset Management S.A. now owns 947,103 shares of the company’s stock worth $10,276,000 after acquiring an additional 930,566 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in Evolus in the first quarter valued at approximately $11,628,000. BNP Paribas Financial Markets increased its position in Evolus by 84.2% during the first quarter. BNP Paribas Financial Markets now owns 405,931 shares of the company’s stock worth $5,683,000 after purchasing an additional 185,532 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in Evolus during the second quarter worth approximately $3,906,000. Institutional investors and hedge funds own 90.69% of the company’s stock.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.