Evolus (NASDAQ:EOLS) Reaches New 12-Month High - Time to Buy?

Key Points

• Evolus shares reached a new 52-week high, trading as high as $8.44 and closing around $8.41, up from the previous close of $8.18.
• Analyst sentiment is generally positive: four analysts rate the stock a Buy, one a Hold and one a Sell, producing a consensus “Moderate Buy” rating and an average price target of $14.50.
• Institutional ownership stands at 90.69%, with several hedge funds recently establishing positions in the medical-aesthetics company.

Shares of Evolus, Inc. (NASDAQ:EOLS - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.44 and last traded at $8.4140, with a volume of 99211 shares. The stock had previously closed at $8.18.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EOLS. Weiss Ratings raised shares of Evolus from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 15th. Wall Street Zen raised shares of Evolus from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, BTIG Research restated a "buy" rating and set a $13.00 price target on shares of Evolus in a research report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $14.50.

Evolus Stock Up 1.8%

The stock has a market cap of $549.87 million, a P/E ratio of -16.01 and a beta of 1.35. The firm's fifty day moving average price is $6.72 and its 200-day moving average price is $5.69.

Hedge Funds Weigh In On Evolus

Several hedge funds and other institutional investors have recently modified their holdings of EOLS. Wellington Management Group LLP purchased a new stake in shares of Evolus during the second quarter worth about $1,179,000. Nantahala Capital Management LLC bought a new position in Evolus during the 2nd quarter valued at approximately $38,878,026,000. AWH Capital L.P. purchased a new stake in Evolus in the 2nd quarter worth approximately $4,337,500,000. Seven Fleet Capital Management LP bought a new stake in shares of Evolus in the 2nd quarter worth approximately $541,716,000. Finally, Pure Financial Advisors LLC bought a new stake in shares of Evolus in the 2nd quarter worth approximately $124,000. 90.69% of the stock is owned by 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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