Evolus' (EOLS) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Evolus and maintained a $13 price target, implying approximately 48% upside from the prior close.
• Analyst sentiment is broadly positive, with Evolus holding a “Moderate Buy” consensus rating and an average price target of $14.50; four analysts rate it Buy, versus one Hold and one Sell.
• Evolus shares opened at $8.78, near their 52-week high of $8.82, while institutional investors and hedge funds own approximately 90.69% of the stock.

Evolus (NASDAQ:EOLS - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $13.00 price target on the stock. HC Wainwright's target price suggests a potential upside of 48.06% from the company's previous close.

Several other research analysts also recently commented on the stock. Wall Street Zen raised shares of Evolus from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. BTIG Research reissued a "buy" rating and set a $13.00 price target on shares of Evolus in a research report on Wednesday, June 17th. Finally, Weiss Ratings raised shares of Evolus from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 15th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Evolus presently has a consensus rating of "Moderate Buy" and an average price target of $14.50.

Evolus Stock Performance

Shares of EOLS stock opened at $8.78 on Tuesday. The company has a market capitalization of $579.92 million, a P/E ratio of -16.88 and a beta of 1.35. Evolus has a fifty-two week low of $3.86 and a fifty-two week high of $8.82. The stock has a 50 day moving average price of $6.86 and a two-hundred day moving average price of $5.80.

Hedge Funds Weigh In On Evolus

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its stake in Evolus by 79.9% in the second quarter. California State Teachers Retirement System now owns 5,455 shares of the company's stock worth $38,000 after acquiring an additional 2,423 shares during the period. Angeles Wealth Management LLC bought a new stake in Evolus during the 2nd quarter valued at approximately $732,000. Concurrent Investment Advisors LLC bought a new position in shares of Evolus in the 2nd quarter worth approximately $193,000. Braidwell LP grew its stake in Evolus by 1.6% in the second quarter. Braidwell LP now owns 3,155,209 shares of the company's stock worth $21,897,000 after purchasing an additional 50,000 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of Evolus during the 2nd quarter valued at $1,179,000. 90.69% of the stock is owned by hedge funds and other institutional investors.

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.

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