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

Evolus (NASDAQ:EOLS)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $22.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 58.94% from the stock’s previous close.

Separately, HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Evolus in a report on Thursday, November 7th.

Evolus Price Performance

NASDAQ EOLS traded up $3.33 during trading on Tuesday, hitting $13.84. 2,077,567 shares of the company’s stock were exchanged, compared to its average volume of 893,667. The stock’s 50 day moving average price is $11.65 and its two-hundred day moving average price is $13.73. The company has a market cap of $876.49 million, a PE ratio of -15.24 and a beta of 1.32. Evolus has a fifty-two week low of $9.25 and a fifty-two week high of $17.82. The company has a current ratio of 2.47, a quick ratio of 2.23 and a debt-to-equity ratio of 20.58.

Hedge Funds Weigh In On Evolus

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of Evolus by 27.3% in the second quarter. Rhumbline Advisers now owns 81,439 shares of the company’s stock worth $884,000 after purchasing an additional 17,442 shares during the last quarter. Sei Investments Co. lifted its holdings in Evolus by 9.8% during the 2nd quarter. Sei Investments Co. now owns 33,802 shares of the company’s stock worth $367,000 after buying an additional 3,020 shares during the period. Profund Advisors LLC bought a new stake in shares of Evolus in the 2nd quarter valued at about $130,000. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Evolus in the second quarter valued at about $246,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Evolus by 5.7% during the second quarter. Cubist Systematic Strategies LLC now owns 338,254 shares of the company’s stock worth $3,670,000 after acquiring an additional 18,157 shares during the last quarter. 90.69% of the stock is currently owned by institutional investors and hedge funds.

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.