Evolus (NASDAQ:EOLS) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Evolus (NASDAQ:EOLS) from a buy rating to a hold rating in a report published on Friday, Zacks.com reports.

According to Zacks, “Evolus, Inc. is a medical aesthetics company. It focuses on providing physicians and patients in aesthetic procedures and treatments. The company focuses on the self-pay aesthetic market and its lead product candidate, DWP-450, is an injectable 900 kDa purified botulinum toxin type A complex. Evolus, Inc. is based in Irvine, California. “

Several other equities analysts have also commented on EOLS. Cantor Fitzgerald reissued a buy rating and set a $35.00 price objective on shares of Evolus in a research report on Tuesday, April 30th. Mizuho set a $31.00 price objective on Evolus and gave the company a buy rating in a research report on Monday, May 20th. Barclays assumed coverage on Evolus in a research report on Tuesday, June 11th. They issued an underweight rating and a $13.00 price target for the company. ValuEngine raised Evolus from a hold rating to a buy rating in a research report on Thursday, July 18th. Finally, Wells Fargo & Co assumed coverage on Evolus in a research report on Friday, June 28th. They issued a market perform rating and a $16.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Evolus currently has an average rating of Buy and an average price target of $26.38.

Evolus stock traded down $0.88 on Friday, hitting $16.05. 6,204 shares of the stock traded hands, compared to its average volume of 567,715. The company has a debt-to-equity ratio of 0.96, a quick ratio of 14.52 and a current ratio of 14.80. The stock has a market capitalization of $462.70 million, a price-to-earnings ratio of -10.09 and a beta of 4.80. The firm has a fifty day moving average of $15.72. Evolus has a 1 year low of $10.22 and a 1 year high of $30.25.

In related news, major shareholder Corp Alphaeon sold 5,307,940 shares of Evolus stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $19.25, for a total value of $102,177,845.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lauren P. Silvernail sold 2,612 shares of Evolus stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $13.53, for a total value of $35,340.36. The disclosure for this sale can be found here. Insiders purchased a total of 1,931,327 shares of company stock valued at $37,157,482 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in EOLS. Swiss National Bank purchased a new position in Evolus during the second quarter worth approximately $333,000. Janney Montgomery Scott LLC raised its position in Evolus by 7.7% in the second quarter. Janney Montgomery Scott LLC now owns 24,600 shares of the company’s stock valued at $360,000 after purchasing an additional 1,750 shares during the period. Creative Planning purchased a new stake in Evolus in the second quarter valued at $318,000. Segantii Capital Management Ltd purchased a new stake in Evolus in the second quarter valued at $1,097,000. Finally, Edge Wealth Management LLC purchased a new stake in Evolus in the second quarter valued at $29,000. Institutional investors and hedge funds own 14.74% of the company’s stock.

About Evolus

Evolus, Inc, a performance beauty company, provides medical aesthetic products for physicians and their patients in the United States. It 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.

See Also: Accumulation/Distribution

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