HC Wainwright Lowers Evolus (NASDAQ:EOLS) Price Target to $13.00

Evolus (NASDAQ:EOLS) had its price objective reduced by research analysts at HC Wainwright from $20.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 164.77% from the stock’s current price.

EOLS has been the subject of several other reports. Wall Street Zen upgraded Evolus from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. BTIG Research reduced their target price on shares of Evolus from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Stifel Nicolaus decreased their target price on shares of Evolus from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Evolus in a research note on Monday, December 22nd. Finally, Mizuho reduced their price objective on shares of Evolus from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, December 1st. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.17.

Evolus Stock Up 4.7%

Evolus stock opened at $4.91 on Tuesday. Evolus has a 12 month low of $4.56 and a 12 month high of $17.12. The stock has a market cap of $318.27 million, a P/E ratio of -5.34 and a beta of 1.12. The company’s fifty day simple moving average is $6.21 and its 200-day simple moving average is $6.80.

Evolus (NASDAQ:EOLS) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $68.97 million for the quarter, compared to analyst estimates of $91.23 million. On average, equities research analysts expect that Evolus will post -0.61 earnings per share for the current fiscal year.

Insider Activity

In related news, insider David Moatazedi sold 10,539 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $7.15, for a total value of $75,353.85. Following the transaction, the insider directly owned 354,388 shares in the company, valued at approximately $2,533,874.20. This trade represents a 2.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Evolus

A number of hedge funds have recently bought and sold shares of EOLS. Frazier Life Sciences Management L.P. bought a new position in shares of Evolus in the second quarter worth about $22,431,000. Nantahala Capital Management LLC grew its holdings in Evolus by 33.2% in the 3rd quarter. Nantahala Capital Management LLC now owns 5,726,857 shares of the company’s stock valued at $35,163,000 after buying an additional 1,428,931 shares during the last quarter. Soleus Capital Management L.P. increased its position in Evolus by 96.4% in the 2nd quarter. Soleus Capital Management L.P. now owns 2,119,000 shares of the company’s stock worth $19,516,000 after buying an additional 1,039,842 shares during the period. Caligan Partners LP lifted its holdings in shares of Evolus by 23.8% during the third quarter. Caligan Partners LP now owns 4,138,943 shares of the company’s stock worth $25,413,000 after buying an additional 796,973 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Evolus in the second quarter valued at approximately $6,318,000. 90.69% of the stock is currently 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.