Evolus, Inc. (NASDAQ:EOLS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Evolus, Inc. has received an average analyst rating of "Moderate Buy", with four firms rating it as a buy and one as a hold, reflecting positive sentiment towards the company's future prospects.
• The average 12-month price target for Evolus shares is currently set at $21.25, though analysts have recently adjusted their forecasts downward with some targets as low as $18.00.
• Recent insider activity includes a significant purchase by Director Brady Stewart of 30,000 shares at $6.82 each, indicating confidence in the company's direction.

Evolus, Inc. (NASDAQ:EOLS - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $21.25.

A number of equities research analysts have issued reports on the company. Needham & Company LLC reissued a "hold" rating and set a $22.00 price target on shares of Evolus in a research report on Wednesday, August 6th. BTIG Research lowered their price target on Evolus from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. HC Wainwright lowered their price target on Evolus from $27.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut Evolus from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.

Insider Buying and Selling

In related news, Director Albert G. White III acquired 20,000 shares of Evolus stock in a transaction on Monday, June 9th. The shares were bought at an average price of $9.45 per share, for a total transaction of $189,000.00. Following the completion of the purchase, the director directly owned 50,378 shares in the company, valued at $476,072.10. This trade represents a 65.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Moatazedi sold 111,323 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $10.05, for a total value of $1,118,796.15. Following the transaction, the insider owned 381,509 shares in the company, valued at approximately $3,834,165.45. This represents a 22.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,627 shares of company stock worth $1,325,764. Company insiders own 6.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EOLS. Frazier Life Sciences Management L.P. acquired a new position in shares of Evolus during the second quarter worth about $22,431,000. Soleus Capital Management L.P. lifted its stake in shares of Evolus by 96.4% in the second quarter. Soleus Capital Management L.P. now owns 2,119,000 shares of the company's stock worth $19,516,000 after acquiring an additional 1,039,842 shares in the last quarter. Nuveen LLC acquired a new position in shares of Evolus in the first quarter worth about $12,330,000. Pinnacle Associates Ltd. acquired a new position in shares of Evolus in the second quarter worth about $6,318,000. Finally, First Light Asset Management LLC acquired a new position in shares of Evolus in the second quarter worth about $4,795,000. Institutional investors and hedge funds own 90.69% of the company's stock.

Evolus Trading Up 2.0%

EOLS stock traded up $0.15 during trading on Wednesday, reaching $7.66. 534,857 shares of the stock traded hands, compared to its average volume of 1,045,975. The business's 50 day moving average price is $8.26 and its 200-day moving average price is $10.13. 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 current ratio of 2.27 and a quick ratio of 1.86. The firm has a market capitalization of $495.45 million, a PE ratio of -7.82 and a beta of 1.07.

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.