Evolus (NASDAQ:EOLS) Earns Buy Rating from Needham & Company LLC

Evolus (NASDAQ:EOLS)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $22.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 62.96% from the stock’s current price.

A number of other research firms have also commented on EOLS. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective on shares of Evolus in a research note on Wednesday. Barclays increased their price target on shares of Evolus from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Evolus Price Performance

EOLS stock opened at $13.50 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 2.23 and a debt-to-equity ratio of 20.58. Evolus has a one year low of $9.25 and a one year high of $17.82. The firm has a market capitalization of $854.83 million, a PE ratio of -14.84 and a beta of 1.33. The firm has a 50-day moving average of $12.85 and a two-hundred day moving average of $14.08.

Institutional Investors Weigh In On Evolus

Several hedge funds and other institutional investors have recently modified their holdings of EOLS. KBC Group NV bought a new position in Evolus in the fourth quarter worth $49,000. IFP Advisors Inc lifted its holdings in shares of Evolus by 17,440.7% during the fourth quarter. IFP Advisors Inc now owns 4,736 shares of the company’s stock valued at $52,000 after acquiring an additional 4,709 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Evolus during the fourth quarter valued at $106,000. Rafferty Asset Management LLC bought a new position in shares of Evolus during the fourth quarter valued at $115,000. Finally, Quantbot Technologies LP bought a new position in shares of Evolus during the fourth quarter valued at $118,000. Institutional investors and hedge funds 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.