Evolus' (EOLS) "Hold" Rating Reaffirmed at Needham & Company LLC

Key Points

• Evolus has been downgraded from a "buy" to a "hold" rating by Needham & Company LLC, reflecting changing sentiments among analysts.
• Despite the downgrade, HC Wainwright maintained a "buy" rating with a price target of $27.00, indicating mixed views from different analysts.
• Shares of Evolus are currently trading at $8.91, a 2.2% decline, with a market capitalization of approximately $574.52 million.

Needham & Company LLC reaffirmed their hold rating on shares of Evolus (NASDAQ:EOLS - Free Report) in a research report released on Wednesday morning, MarketBeat reports. They currently have a $22.00 price objective on the stock.

A number of other brokerages have also weighed in on EOLS. BTIG Research began coverage on shares of Evolus in a report on Thursday, April 17th. They issued a "buy" rating and a $21.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $27.00 price target on shares of Evolus in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Evolus currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

Evolus Stock Down 2.8%

NASDAQ:EOLS traded down $0.17 during mid-day trading on Wednesday, hitting $5.90. The stock had a trading volume of 2,722,368 shares, compared to its average volume of 1,984,819. Evolus has a twelve month low of $5.85 and a twelve month high of $17.82. The stock has a 50-day simple moving average of $9.25 and a two-hundred day simple moving average of $11.12. The company has a current ratio of 2.27, a quick ratio of 2.16 and a debt-to-equity ratio of 22.00. The company has a market capitalization of $381.64 million, a PE ratio of -6.02 and a beta of 1.12.

Insider Activity at Evolus

In related news, insider David Moatazedi sold 111,323 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $10.05, for a total transaction of $1,118,796.15. Following the transaction, the insider owned 381,509 shares in the company, valued at $3,834,165.45. This trade represents a 22.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Albert G. White III purchased 20,000 shares of the business's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $9.45 per share, for a total transaction of $189,000.00. Following the transaction, the director owned 50,378 shares of the company's stock, valued at $476,072.10. This trade represents a 65.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 153,571 shares of company stock worth $1,537,090. Insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On Evolus

A number of hedge funds have recently modified their holdings of EOLS. Barclays PLC boosted its stake in Evolus by 12.9% during the 4th quarter. Barclays PLC now owns 105,786 shares of the company's stock worth $1,167,000 after purchasing an additional 12,124 shares during the period. Frontier Capital Management Co. LLC acquired a new stake in Evolus during the 4th quarter worth approximately $2,648,000. Raymond James Financial Inc. purchased a new stake in shares of Evolus during the fourth quarter worth approximately $575,000. Comerica Bank purchased a new stake in shares of Evolus during the fourth quarter worth approximately $312,000. Finally, Tang Capital Management LLC lifted its holdings in shares of Evolus by 3.1% during the fourth quarter. Tang Capital Management LLC now owns 4,997,399 shares of the company's stock worth $55,171,000 after purchasing an additional 150,000 shares during the period. 90.69% of the stock is currently 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.