Needham & Company LLC Reaffirms "Buy" Rating for Evolus (NASDAQ:EOLS)

Needham & Company LLC reiterated their buy rating on shares of Evolus (NASDAQ:EOLS - Free Report) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $22.00 target price on the stock.

A number of other research analysts have also weighed in on the stock. Barclays raised their target price on shares of Evolus from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 5th. HC Wainwright reiterated a "buy" rating and set a $27.00 price objective on shares of Evolus in a research report on Wednesday, March 5th.

Evolus Price Performance

Shares of Evolus stock remained flat at $9.54 during trading hours on Wednesday. 305,982 shares of the stock were exchanged, compared to its average volume of 649,094. The firm has a 50-day moving average price of $12.91 and a two-hundred day moving average price of $13.31. The company has a debt-to-equity ratio of 20.58, a current ratio of 2.47 and a quick ratio of 2.23. The stock has a market capitalization of $606.62 million, a P/E ratio of -10.48 and a beta of 0.97. Evolus has a fifty-two week low of $8.67 and a fifty-two week high of $17.82.

Insider Transactions at Evolus

In related news, insider David Moatazedi sold 6,251 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $12.40, for a total transaction of $77,512.40. Following the completion of the sale, the insider now directly owns 508,619 shares of the company's stock, valued at approximately $6,306,875.60. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Tomoko Yamagishi-Dressler sold 4,536 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $13.26, for a total transaction of $60,147.36. Following the completion of the transaction, the chief marketing officer now directly owns 95,671 shares in the company, valued at $1,268,597.46. The trade was a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,575 shares of company stock worth $794,369 in the last 90 days. Insiders own 6.10% of the company's stock.

Institutional Trading of Evolus

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of Evolus by 268.0% during the third quarter. Barclays PLC now owns 93,662 shares of the company's stock worth $1,518,000 after buying an additional 68,213 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Evolus by 173.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 418,576 shares of the company's stock valued at $6,781,000 after acquiring an additional 265,635 shares during the period. Principal Financial Group Inc. grew its position in Evolus by 9.8% in the 4th quarter. Principal Financial Group Inc. now owns 33,370 shares of the company's stock valued at $368,000 after acquiring an additional 2,989 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Evolus by 47.0% during the third quarter. Jane Street Group LLC now owns 91,899 shares of the company's stock worth $1,489,000 after purchasing an additional 29,396 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Evolus by 23.4% in the third quarter. Lord Abbett & CO. LLC now owns 995,449 shares of the company's stock valued at $16,126,000 after purchasing an additional 188,685 shares during the period. 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.