Evolus' (EOLS) Buy Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research has reaffirmed a "buy" rating for Evolus, setting a price target of $18.00, indicating a potential upside of 134.53% from its current price.
• The stock has received mixed ratings from analysts, with one downgrade to a "sell" rating and a majority maintaining a "buy" or "hold" rating, resulting in an average target price of $21.25.
• Evolus saw notable insider transactions, including a director purchasing 30,000 shares and a CMO selling 5,722 shares, reflecting ongoing interest and activity among company leadership.

Evolus (NASDAQ:EOLS - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at BTIG Research in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $18.00 price objective on the stock. BTIG Research's target price suggests a potential upside of 134.53% from the stock's current price.

Several other research analysts also recently issued reports on the company. Wall Street Zen downgraded Evolus from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Needham & Company LLC reissued a "hold" rating and issued a $22.00 price target on shares of Evolus in a report on Wednesday, August 6th. Finally, HC Wainwright cut their target price on shares of Evolus from $27.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $21.25.

Evolus Price Performance

Shares of NASDAQ EOLS traded up $0.02 during trading on Monday, hitting $7.68. The company had a trading volume of 159,970 shares, compared to its average volume of 1,085,737. The business's 50-day moving average is $8.26 and its 200 day moving average is $10.13. The company has a market cap of $496.42 million, a P/E ratio of -7.83 and a beta of 1.07. Evolus has a 52 week low of $5.71 and a 52 week high of $17.82. The company has a debt-to-equity ratio of 22.00, a quick ratio of 1.86 and a current ratio of 2.27.

Insider Transactions at Evolus

In related news, Director Brady Stewart bought 30,000 shares of the business's stock in a transaction dated Friday, August 15th. The shares were bought at an average cost of $6.82 per share, with a total value of $204,600.00. Following the completion of the transaction, the director directly owned 88,629 shares of the company's stock, valued at approximately $604,449.78. This trade represents a 51.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Tomoko Yamagishi-Dressler sold 5,722 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $7.51, for a total value of $42,972.22. Following the sale, the chief marketing officer owned 89,949 shares of the company's stock, valued at approximately $675,516.99. This trade represents a 5.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,627 shares of company stock worth $1,325,764 in the last three months. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its holdings in shares of Evolus by 830.2% during the second quarter. Squarepoint Ops LLC now owns 105,797 shares of the company's stock worth $974,000 after buying an additional 94,423 shares in the last quarter. Caxton Associates LLP bought a new position in Evolus in the second quarter valued at $148,000. Tower Research Capital LLC TRC lifted its holdings in Evolus by 340.2% in the second quarter. Tower Research Capital LLC TRC now owns 7,364 shares of the company's stock worth $68,000 after buying an additional 5,691 shares during the period. Soleus Capital Management L.P. increased its position in shares of Evolus by 96.4% during the second quarter. Soleus Capital Management L.P. now owns 2,119,000 shares of the company's stock valued at $19,516,000 after acquiring an additional 1,039,842 shares in the last quarter. Finally, Man Group plc boosted its stake in shares of Evolus by 23.5% during the 2nd quarter. Man Group plc now owns 125,749 shares of the company's stock worth $1,158,000 after acquiring an additional 23,922 shares during the last quarter. 90.69% of the stock is currently 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.

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