After Cantor Fitzgerald and Stifel Nicolaus gave Evolus Inc (NASDAQ: EOLS) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Douglas Tsao maintained a Buy rating on Evolus Inc today and set a price target of $37. The company’s shares closed yesterday at $24.38.
Tsao commented:
“We expect the company to provide additional insight into its launch plans next week when the company hosts its analyst meeting. We don’t expect to learn about the company’s plans for customer-loyalty programs, which will be the second phase of the company’s commercial rollout. Recent milestones. EOLS received positive CHMP opinion for Nuceiva, Jeuveau’s brand name in Europe, an anticipated approval within 90 days from the EMA. The company expects to eventually sign a partner to commercialize Nuceiva in that region. The company also noted recent publication of head-to-head data comparing Jeuveau to Botox. Management noted additional data will be presented at the upcoming ASAPS (Anerican Society for Aesthetic Plastic Surgery) meeting. 1Q results.”
According to TipRanks.com, Tsao is a 3-star analyst with an average return of 2.7% and a 52.6% success rate. Tsao covers the Healthcare sector, focusing on stocks such as Crinetics Pharmaceuticals Inc, Revance Therapeutics, and Radius Health.
Currently, the analyst consensus on Evolus Inc is a Strong Buy with an average price target of $33.60, which is a 37.8% upside from current levels. In a report issued on April 26, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $35 price target.
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The company has a one-year high of $39.50 and a one-year low of $6.90. Currently, Evolus Inc has an average volume of 1.24M.
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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.
