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

Evolus (NASDAQ:EOLS)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently 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.

Several other equities analysts also recently commented on EOLS. Cantor Fitzgerald reissued an “overweight” rating on shares of Evolus in a report on Thursday, June 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Evolus in a research note on Thursday.

Evolus Stock Performance

Shares of NASDAQ EOLS opened at $12.42 on Thursday. The firm has a 50 day moving average of $11.72 and a 200 day moving average of $12.62. The company has a current ratio of 3.21, a quick ratio of 2.96 and a debt-to-equity ratio of 6.54. The firm has a market capitalization of $777.49 million, a price-to-earnings ratio of -11.83 and a beta of 1.29. Evolus has a 12-month low of $7.44 and a 12-month high of $15.43.

Evolus (NASDAQ:EOLS) last announced its earnings results on Tuesday, May 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $59.33 million for the quarter, compared to the consensus estimate of $58.78 million. On average, research analysts anticipate that Evolus will post -0.61 earnings per share for the current year.

Insider Activity

In other news, insider David Moatazedi sold 16,051 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $12.72, for a total value of $204,168.72. Following the transaction, the insider now directly owns 673,563 shares in the company, valued at $8,567,721.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Sandra Beaver sold 2,423 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $12.72, for a total value of $30,820.56. Following the sale, the chief financial officer now directly owns 151,778 shares in the company, valued at approximately $1,930,616.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Moatazedi sold 16,051 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were 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 owns 673,563 shares in the company, valued at $8,567,721.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,895 shares of company stock valued at $2,384,720. 6.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Evolus

Hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. raised its position in shares of Evolus by 353.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,614 shares of the company’s stock valued at $70,000 after purchasing an additional 5,155 shares during the last quarter. AJOVista LLC purchased a new position in Evolus during the 4th quarter worth approximately $70,000. Tradition Wealth Management LLC raised its position in Evolus by 44.8% during the 4th quarter. Tradition Wealth Management LLC now owns 8,000 shares of the company’s stock worth $84,000 after buying an additional 2,475 shares during the last quarter. Sierra Summit Advisors LLC purchased a new position in Evolus during the 4th quarter worth approximately $119,000. Finally, ProShare Advisors LLC grew its stake in shares of Evolus by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 11,542 shares of the company’s stock worth $162,000 after purchasing an additional 1,035 shares during the period. 90.69% of the stock is owned by hedge funds and other 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.