Needham & Company LLC Reiterates “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,Benzinga reports. Needham & Company LLC currently has a $22.00 target price on the stock.

Several other analysts have also recently commented on EOLS. Barclays raised their target price on Evolus from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of Evolus in a report on Wednesday, March 5th.

Evolus Stock Performance

Shares of Evolus stock traded down $1.08 during trading on Wednesday, hitting $9.29. 645,661 shares of the stock were exchanged, compared to its average volume of 641,128. The company has a debt-to-equity ratio of 20.58, a quick ratio of 2.23 and a current ratio of 2.47. Evolus has a 12 month low of $8.67 and a 12 month high of $17.82. The stock’s fifty day moving average is $13.06 and its 200 day moving average is $13.42. The stock has a market cap of $590.72 million, a PE ratio of -10.20 and a beta of 0.97.

Insider Activity at Evolus

In other news, Director Karah Herdman Parschauer sold 12,888 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $12.99, for a total transaction of $167,415.12. Following the completion of the sale, the director now directly owns 32,183 shares of the company’s stock, valued at $418,057.17. This represents a 28.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Moatazedi sold 6,251 shares of Evolus stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $12.40, for a total value of $77,512.40. Following the completion of the transaction, the insider now directly owns 508,619 shares in the company, valued at $6,306,875.60. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,575 shares of company stock valued at $794,369 over the last ninety days. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV purchased a new position in Evolus during the 4th quarter worth approximately $49,000. IFP Advisors Inc boosted its stake in shares of Evolus by 17,440.7% during the 4th quarter. IFP Advisors Inc now owns 4,736 shares of the company’s stock valued at $52,000 after buying an additional 4,709 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Evolus in the 3rd quarter valued at approximately $132,000. KLP Kapitalforvaltning AS bought a new stake in Evolus in the fourth quarter worth approximately $106,000. Finally, Rafferty Asset Management LLC acquired a new position in Evolus during the fourth quarter worth $115,000. 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.