Needham analyst Serge Belanger has maintained their neutral stance on EOLS stock, giving a Hold rating on October 31.
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Serge Belanger has given his Hold rating due to a combination of factors including Evolus’s recent financial performance and market conditions. The company reported a slight decline in quarterly revenue compared to the previous quarter, but an increase year-over-year, surpassing market expectations. This was largely driven by the unexpected growth in sales of Jeuveau, which outperformed typical seasonal trends and the broader market for similar products.
Despite these positive signs, Belanger remains cautious due to ongoing macroeconomic challenges and negative consumer sentiment affecting the aesthetics market. These factors are likely to continue limiting the growth potential for products like toxins and fillers, leading to the decision to maintain a Hold rating on Evolus’s stock.
Belanger covers the Healthcare sector, focusing on stocks such as Cormedix, Amphastar Pharmaceuticals, and Viridian Therapeutics. According to TipRanks, Belanger has an average return of 8.4% and a 47.60% success rate on recommended stocks.
In another report released on October 31, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $6.50 price target.