Needham & Company LLC Reiterates “Hold” Rating for Evolus (NASDAQ:EOLS)

Evolus (NASDAQ:EOLS)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports.

Several other equities analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Evolus from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. BTIG Research reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Evolus in a report on Monday, September 8th. Mizuho cut their price objective on shares of Evolus from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, December 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Evolus in a report on Monday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.80.

Evolus Price Performance

NASDAQ EOLS opened at $6.89 on Wednesday. The company has a market cap of $446.29 million, a price-to-earnings ratio of -7.48 and a beta of 0.87. The stock’s fifty day moving average price is $6.90 and its 200 day moving average price is $7.56. Evolus has a 1 year low of $5.71 and a 1 year high of $17.12.

Evolus (NASDAQ:EOLS) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The business had revenue of $68.97 million for the quarter, compared to the consensus estimate of $91.23 million. Evolus had a negative return on equity of 759.04% and a negative net margin of 20.49%. Research analysts expect that Evolus will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. acquired a new stake in shares of Evolus during the 2nd quarter valued at about $6,318,000. PDT Partners LLC purchased a new position in Evolus during the first quarter worth approximately $730,000. Frazier Life Sciences Management L.P. acquired a new stake in Evolus in the second quarter valued at approximately $22,431,000. Frontier Capital Management Co. LLC increased its position in shares of Evolus by 37.9% in the second quarter. Frontier Capital Management Co. LLC now owns 1,664,828 shares of the company’s stock valued at $15,333,000 after buying an additional 457,533 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Evolus by 5.4% during the 1st quarter. Russell Investments Group Ltd. now owns 118,085 shares of the company’s stock worth $1,421,000 after buying an additional 6,015 shares during the period. Hedge funds and other institutional investors own 90.69% of the company’s stock.

About Evolus

Evolus, Inc is a specialty pharmaceutical company focused on medical aesthetics. Headquartered in Newport Beach, California, Evolus develops and commercializes products designed to enhance facial appearance through minimally invasive procedures. Since its founding in 2017, the company has positioned itself in the fast-growing aesthetic market by partnering with leading manufacturers and leveraging clinical expertise to bring innovative injectables to practitioners and patients.

The company’s flagship offering, Jeuveau (prabotulinumtoxinA-xvfs), is a neuromodulator approved by the U.S.