Needham & Company LLC Reaffirms “Buy” Rating for Evolus (NASDAQ:EOLS)

Needham & Company LLC reaffirmed their buy rating on shares of Evolus (NASDAQ:EOLS) in a research report sent to investors on Wednesday morning, Benzinga reports. Needham & Company LLC currently has a $22.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on EOLS. HC Wainwright reaffirmed a buy rating and issued a $27.00 price target on shares of Evolus in a research report on Friday, March 1st. Barclays raised Evolus from an equal weight rating to an overweight rating and boosted their price target for the stock from $10.00 to $16.00 in a research report on Monday, January 29th.

Evolus Stock Performance

Evolus stock traded down $0.16 during trading hours on Wednesday, hitting $13.10. The company had a trading volume of 9,298 shares, compared to its average volume of 626,236. The firm has a market cap of $819.98 million, a P/E ratio of -12.17 and a beta of 1.47. The company has a 50-day moving average price of $13.25 and a two-hundred day moving average price of $11.53. Evolus has a 1 year low of $7.07 and a 1 year high of $15.43.

Evolus (NASDAQ:EOLS) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.05). The firm had revenue of $61.00 million during the quarter, compared to analyst estimates of $61.14 million. As a group, equities research analysts anticipate that Evolus will post -0.51 EPS for the current year.

Insider Buying and Selling at Evolus

In other news, insider David Moatazedi sold 7,706 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $13.08, for a total value of $100,794.48. Following the completion of the sale, the insider now owns 792,416 shares of the company’s stock, valued at approximately $10,364,801.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Sandra Beaver sold 5,672 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $13.92, for a total transaction of $78,954.24. Following the completion of the transaction, the chief financial officer now owns 154,201 shares of the company’s stock, valued at $2,146,477.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David Moatazedi sold 7,706 shares of Evolus stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $13.08, for a total value of $100,794.48. Following the transaction, the insider now owns 792,416 shares of the company’s stock, valued at approximately $10,364,801.28. The disclosure for this sale can be found here. Insiders sold a total of 49,038 shares of company stock worth $674,232 over the last three months. Corporate insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EOLS. China Universal Asset Management Co. Ltd. boosted its position in Evolus by 353.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 6,614 shares of the company’s stock worth $70,000 after purchasing an additional 5,155 shares in the last quarter. AJOVista LLC acquired a new position in shares of Evolus during the 4th quarter worth approximately $70,000. Tradition Wealth Management LLC lifted its position in shares of Evolus by 44.8% during the 4th quarter. Tradition Wealth Management LLC now owns 8,000 shares of the company’s stock valued at $84,000 after buying an additional 2,475 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in shares of Evolus during the 4th quarter valued at approximately $119,000. Finally, ProShare Advisors LLC grew its stake in Evolus by 9.9% in the 1st quarter. ProShare Advisors LLC now owns 11,542 shares of the company’s stock valued at $162,000 after acquiring an additional 1,035 shares during the period. Hedge funds and other institutional investors own 90.69% of the company’s stock.

About Evolus

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.