Evolus (NASDAQ:EOLS) Reaches New 12-Month High - Should You Buy?

Key Points

• Evolus shares reached a new 52-week high, trading as high as $9.15 and closing near $9.06, up 2.4% during the session.
• Analyst sentiment is generally positive: four analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $14.50.
• Institutional ownership stands at 90.69%, with several hedge funds and investment firms recently increasing or initiating positions in Evolus.

Evolus, Inc. (NASDAQ:EOLS - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.15 and last traded at $9.06, with a volume of 618548 shares. The stock had previously closed at $8.88.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EOLS shares. BTIG Research restated a "buy" rating and set a $13.00 price objective on shares of Evolus in a research note on Wednesday, June 17th. HC Wainwright restated a "buy" rating and set a $13.00 price target on shares of Evolus in a research report on Tuesday, August 25th. Weiss Ratings raised shares of Evolus from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of Evolus from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.50.

Evolus Trading Up 2.4%

The stock has a 50-day simple moving average of $7.04 and a 200-day simple moving average of $5.93. The company has a market cap of $600.39 million, a price-to-earnings ratio of -17.48 and a beta of 1.35.

Hedge Funds Weigh In On Evolus

A number of institutional investors and hedge funds have recently bought and sold shares of EOLS. Assenagon Asset Management S.A. grew its holdings in shares of Evolus by 51.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 908,180 shares of the company's stock worth $6,303,000 after acquiring an additional 310,035 shares during the last quarter. Perceptive Advisors LLC purchased a new position in Evolus in the 1st quarter worth about $5,289,000. Deutsche Bank AG acquired a new stake in Evolus during the 2nd quarter worth about $3,157,000. Nantahala Capital Management LLC acquired a new stake in Evolus during the 2nd quarter worth about $38,878,026. Finally, Rice Hall James & Associates LLC purchased a new stake in Evolus during the second quarter valued at about $8,952,000. Institutional investors own 90.69% of the company's stock.

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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