Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Evolus Inc (NASDAQ: EOLS) today and set a price target of $35. The company’s shares opened today at $18.70.
Chen noted:
“Based on our due diligence, dermatologists and plastic surgeons appreciate the value proposition of Evolus’s botulinum toxin as a nearly identical product to market-leader Botox sold at a discount. Therefore, we think DWP-450 could pick up meaningful market share if it is approved. and other potential upcoming catalysts should drive EOLS shares higher. Valuation Summary We use a blend of EV/EBITDA and DCF analysis to arrive at our $35 12-month price target.”
According to TipRanks.com, Chen is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.7% and a 37.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Evolus Inc is a Strong Buy with an average price target of $29.67.
See today’s analyst top recommended stocks >>
Based on Evolus Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $16.43 million. In comparison, last year the company had a GAAP net loss of $3.74 million.
Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Evolus, Inc. is a medical aesthetics company. The company is engaged in providing physicians and patients with expanded choices in aesthetic procedures and treatments. Evolus was founded in November, 2012 and is headquartered in Irvine, CA.
