Evolus (NASDAQ:EOLS) Announces Quarterly Earnings Results

Evolus (NASDAQ:EOLS) issued its earnings results on Wednesday. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09), reports. The firm had revenue of $61.09 million during the quarter, compared to the consensus estimate of $62.81 million. Evolus had a negative return on equity of 855.07% and a negative net margin of 22.33%. Evolus updated its FY 2024 guidance to EPS.

Evolus Price Performance

Evolus stock traded down $0.61 during trading on Friday, reaching $13.68. The company had a trading volume of 1,276,355 shares, compared to its average volume of 507,649. The firm’s 50-day simple moving average is $16.22 and its 200 day simple moving average is $13.84. The company has a debt-to-equity ratio of 6.26, a current ratio of 2.92 and a quick ratio of 2.67. Evolus has a 52 week low of $7.74 and a 52 week high of $17.82.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Evolus in a research report on Thursday. Barclays increased their price objective on Evolus from $16.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Evolus in a report on Monday, September 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Evolus in a research note on Friday, September 13th.

Insider Activity

In other Evolus news, CMO Tomoko Yamagishi-Dressler sold 5,631 shares of Evolus stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $15.85, for a total transaction of $89,251.35. Following the transaction, the chief marketing officer now owns 82,375 shares of the company’s stock, valued at $1,305,643.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CMO Tomoko Yamagishi-Dressler sold 5,631 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $15.85, for a total value of $89,251.35. Following the transaction, the chief marketing officer now directly owns 82,375 shares in the company, valued at $1,305,643.75. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandra Beaver sold 3,276 shares of Evolus stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $14.98, for a total value of $49,074.48. Following the sale, the chief financial officer now directly owns 148,502 shares in the company, valued at $2,224,559.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in Evolus by 5,627.2% during the second quarter. Assenagon Asset Management S.A. now owns 947,103 shares of the company’s stock valued at $10,276,000 after buying an additional 930,566 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Evolus during the 1st quarter valued at approximately $11,628,000. Armistice Capital LLC purchased a new position in shares of Evolus in the second quarter valued at $3,906,000. Zimmer Partners LP bought a new stake in Evolus in the first quarter worth $4,200,000. Finally, BNP Paribas Financial Markets raised its stake in Evolus by 84.2% during the first quarter. BNP Paribas Financial Markets now owns 405,931 shares of the company’s stock valued at $5,683,000 after purchasing an additional 185,532 shares in the last quarter. Institutional investors own 90.69% of the company’s stock.

Evolus Company Profile

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.