After H.C. Wainwright and Stifel Nicolaus gave Evolus Inc (NASDAQ: EOLS) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Louise Chen reiterated a Buy rating on Evolus Inc today and set a price target of $35. The company’s shares closed yesterday at $27.72.
Chen commented:
“We reiterate our OW rating on EOLS. Based on our due diligence, dermatologists and plastic surgeons appreciate the value proposition of EOL’s botulinum toxin as a nearly identical product to market leader Botox sold at a discount. We think Jeuveau could pick up meaningful market share. The launch and uptake of Jeuveau 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 a 4-star analyst with an average return of 11.3% and a 39.8% success rate. Chen covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Bausch Health Companies Inc, and Amneal Pharmaceuticals Inc.
Currently, the analyst consensus on Evolus Inc is a Strong Buy with an average price target of $33.20.
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The company has a one-year high of $39.50 and a one-year low of $6.75. Currently, Evolus Inc has an average volume of 1.22M.
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Evolus, Inc. is a medical aesthetics company, which engages in the provision of medical aesthetic treatments and procedures. It offers products under the brand of Jeuveau. The company was founded in November, 2012 and is headquartered in Newport Beach, CA.
