Evolus (NASDAQ:EOLS) Reaches New 1-Year High – Time to Buy?

Evolus, Inc. (NASDAQ:EOLS)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $8.00 and last traded at $7.9980, with a volume of 558070 shares changing hands. The stock had previously closed at $7.57.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EOLS shares. Weiss Ratings raised Evolus from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. BTIG Research reissued a “buy” rating and issued a $13.00 price target on shares of Evolus in a research note on Wednesday, June 17th. Finally, Wall Street Zen upgraded Evolus from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Evolus Stock Down 2.6%

The firm has a market cap of $536.33 million, a price-to-earnings ratio of -15.62 and a beta of 1.35. The company has a 50-day moving average price of $6.61 and a 200 day moving average price of $5.61.

Hedge Funds Weigh In On Evolus

Several institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in shares of Evolus by 51.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 908,180 shares of the company’s stock worth $6,303,000 after acquiring an additional 310,035 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of Evolus in the 1st quarter valued at approximately $5,289,000. Pinnacle Associates Ltd. lifted its holdings in Evolus by 15.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 782,365 shares of the company’s stock worth $5,203,000 after purchasing an additional 107,490 shares during the last quarter. Potomac Capital Management Inc. bought a new stake in Evolus during the fourth quarter worth approximately $939,000. Finally, Rice Hall James & Associates LLC grew its holdings in Evolus by 8.8% during the first quarter. Rice Hall James & Associates LLC now owns 1,254,819 shares of the company’s stock valued at $5,157,000 after purchasing an additional 101,375 shares during the last quarter. Hedge funds and other institutional investors own 90.69% of the company’s stock.

Evolus Company Profile

Evolus, Inc is a specialty pharmaceutical company focused on medical aesthetics. Headquartered in Newport Beach, California, Evolus develops and commercializes products designed to enhance facial appearance through minimally invasive procedures. Since its founding in 2017, the company has positioned itself in the fast-growing aesthetic market by partnering with leading manufacturers and leveraging clinical expertise to bring innovative injectables to practitioners and patients.

The company’s flagship offering, Jeuveau (prabotulinumtoxinA-xvfs), is a neuromodulator approved by the U.S.