In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Evolus Inc (NASDAQ: EOLS), with a price target of $35. The company’s shares opened today at $20.89.
Chen wrote:
“Based on our 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 has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.4% and a 41.8% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Melinta Therapeutics Inc, and Aclaris Therapeutics Inc.
Currently, the analyst consensus on Evolus Inc is a Strong Buy with an average price target of $29.67, a 42.0% upside from current levels. In a report issued on August 17, Mizuho Securities also reiterated a Buy rating on the stock with a $27 price target.
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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 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EOLS in relation to earlier this year.
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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.
