Evolus (NASDAQ:EOLS) Price Target Lowered to $18.00 at BTIG Research

Key Points

• BTIG Research has lowered its price target for Evolus from $21.00 to $18.00, while maintaining a "buy" rating, indicating a potential upside of 191.97% from the stock's previous close.
• Evolus shares have significantly declined, trading at $6.17, down 30.8% during midday trading, and hitting a 1-year low of $5.85.
• A majority of analysts view the stock positively, with an average rating of "Moderate Buy" and a target price of $21.25.

Evolus (NASDAQ:EOLS - Get Free Report) had its target price decreased by equities research analysts at BTIG Research from $21.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's target price suggests a potential upside of 205.08% from the stock's current price.

A number of other analysts have also recently weighed in on the company. HC Wainwright dropped their price target on Evolus from $27.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday. Needham & Company LLC reissued a "hold" rating and issued a $22.00 price objective on shares of Evolus in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.25.

Evolus Stock Performance

Shares of Evolus stock traded down $0.17 on Wednesday, reaching $5.90. 2,722,368 shares of the company were exchanged, compared to its average volume of 2,078,356. The company has a debt-to-equity ratio of 22.00, a quick ratio of 1.86 and a current ratio of 2.27. The company's 50-day moving average is $9.25 and its two-hundred day moving average is $11.10. The firm has a market cap of $381.61 million, a price-to-earnings ratio of -6.02 and a beta of 1.12. Evolus has a 1-year low of $5.85 and a 1-year high of $17.82.

Insider Transactions at Evolus

In other Evolus news, CFO Sandra Beaver sold 6,494 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $10.02, for a total transaction of $65,069.88. Following the completion of the transaction, the chief financial officer directly owned 167,089 shares of the company's stock, valued at approximately $1,674,231.78. This trade represents a 3.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Albert G. White III purchased 20,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $9.45 per share, with a total value of $189,000.00. Following the completion of the purchase, the director owned 50,378 shares in the company, valued at $476,072.10. This represents a 65.84% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 153,571 shares of company stock valued at $1,537,090. Company insiders own 6.10% of the company's stock.

Hedge Funds Weigh In On Evolus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EOLS. AlphaQuest LLC bought a new position in Evolus during the 1st quarter valued at $39,000. State of Wyoming boosted its stake in shares of Evolus by 988.1% during the 1st quarter. State of Wyoming now owns 3,754 shares of the company's stock worth $45,000 after acquiring an additional 3,409 shares in the last quarter. Profund Advisors LLC bought a new stake in shares of Evolus during the 2nd quarter worth $100,000. Versor Investments LP bought a new stake in shares of Evolus during the 2nd quarter worth $102,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Evolus during the 4th quarter worth $106,000. 90.69% of the stock is owned by institutional investors.

Evolus Company Profile

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.