Needham & Company LLC Reiterates Buy Rating for Evolus (NASDAQ:EOLS)

Evolus (NASDAQ:EOLS)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $22.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 63.93% from the stock’s current price.

Other analysts also recently issued research reports about the company. Barclays raised Evolus from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $10.00 to $16.00 in a research note on Monday, January 29th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Evolus in a research report on Friday, March 1st.

Evolus Stock Performance

NASDAQ:EOLS opened at $13.42 on Wednesday. The stock has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $11.52. The firm has a market capitalization of $839.96 million, a PE ratio of -12.31 and a beta of 1.47. Evolus has a 52-week low of $7.07 and a 52-week high of $15.43.

Evolus (NASDAQ:EOLS) last issued its earnings results on Thursday, March 7th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.05). The company had revenue of $61.00 million for the quarter, compared to the consensus estimate of $61.14 million. Equities analysts forecast that Evolus will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Evolus

In other Evolus news, insider Rui Avelar sold 27,603 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $13.92, for a total value of $384,233.76. Following the completion of the sale, the insider now directly owns 372,288 shares in the company, valued at $5,182,248.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Evolus news, insider Rui Avelar sold 27,603 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $13.92, for a total transaction of $384,233.76. Following the transaction, the insider now owns 372,288 shares in the company, valued at approximately $5,182,248.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Moatazedi sold 7,706 shares of Evolus stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $13.08, for a total value of $100,794.48. Following the sale, the insider now directly owns 792,416 shares of the company’s stock, valued at approximately $10,364,801.28. The disclosure for this sale can be found here. Insiders have sold 49,038 shares of company stock worth $674,232 over the last quarter. Insiders own 5.40% of the company’s stock.

Institutional Trading of Evolus

A number of hedge funds have recently modified their holdings of EOLS. Swiss National Bank raised its position in shares of Evolus by 6.8% in the first quarter. Swiss National Bank now owns 95,900 shares of the company’s stock worth $1,343,000 after acquiring an additional 6,100 shares during the period. Essex Investment Management Co. LLC boosted its position in Evolus by 1.5% during the first quarter. Essex Investment Management Co. LLC now owns 254,811 shares of the company’s stock worth $3,567,000 after acquiring an additional 3,761 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Evolus by 84.2% in the 1st quarter. BNP Paribas Financial Markets now owns 405,931 shares of the company’s stock valued at $5,683,000 after acquiring an additional 185,532 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Evolus by 141.7% in the 1st quarter. Principal Financial Group Inc. now owns 34,785 shares of the company’s stock worth $487,000 after purchasing an additional 20,391 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Evolus by 65.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,969 shares of the company’s stock worth $154,000 after purchasing an additional 4,355 shares in the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.

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.