HC Wainwright Reiterates “Buy” Rating for Evolus (NASDAQ:EOLS)

Evolus (NASDAQ:EOLS)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $27.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 117.39% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Evolus in a research report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Evolus in a report on Thursday, June 20th.

Evolus Price Performance

Shares of EOLS opened at $12.42 on Thursday. Evolus has a 12-month low of $7.44 and a 12-month high of $15.43. The business has a 50-day simple moving average of $11.72 and a two-hundred day simple moving average of $12.62. The company has a quick ratio of 2.96, a current ratio of 3.21 and a debt-to-equity ratio of 6.54. The stock has a market cap of $777.49 million, a PE ratio of -11.83 and a beta of 1.29.

Evolus (NASDAQ:EOLS) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The business had revenue of $59.33 million during the quarter, compared to analysts’ expectations of $58.78 million. Analysts anticipate that Evolus will post -0.61 earnings per share for the current fiscal year.

Insider Activity at Evolus

In related news, insider David Moatazedi sold 16,051 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $12.72, for a total transaction of $204,168.72. Following the completion of the sale, the insider now directly owns 673,563 shares of the company’s stock, valued at $8,567,721.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Evolus news, insider David Moatazedi sold 16,051 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $12.72, for a total transaction of $204,168.72. Following the completion of the transaction, the insider now directly owns 673,563 shares of the company’s stock, valued at $8,567,721.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vikram Malik sold 7,500 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $12.96, for a total value of $97,200.00. Following the transaction, the director now directly owns 246,514 shares of the company’s stock, valued at $3,194,821.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,895 shares of company stock valued at $2,384,720. 6.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Evolus

A number of large investors have recently made changes to their positions in EOLS. Vanguard Group Inc. boosted its holdings in shares of Evolus by 37.9% in the third quarter. Vanguard Group Inc. now owns 2,698,647 shares of the company’s stock worth $24,666,000 after acquiring an additional 741,451 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Evolus by 134.6% in the fourth quarter. SG Americas Securities LLC now owns 43,978 shares of the company’s stock worth $463,000 after acquiring an additional 25,234 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Evolus by 353.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,614 shares of the company’s stock valued at $70,000 after buying an additional 5,155 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Evolus by 31.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,056 shares of the company’s stock valued at $211,000 after buying an additional 4,803 shares during the period. Finally, Semanteon Capital Management LP bought a new stake in Evolus during the fourth quarter valued at $472,000. 90.69% of the stock is owned by institutional investors.

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.