Analyst Douglas Tsao of H.C. Wainwright maintained a Buy rating on Evolus, retaining the price target of $13.00.
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Douglas Tsao has given his Buy rating due to a combination of factors, including Evolus’ solid first-quarter performance and confirmation of its 2026 outlook. The company modestly exceeded Street revenue expectations, sustained positive adjusted EBITDA for a second straight quarter, and reiterated guidance for double-digit revenue growth with improving margins, signaling an increasingly scalable business model.
Tsao also views Evolus’ commercial strategy as well suited to a value-focused consumer backdrop, as the company emphasizes perceived value through loyalty programs and partnerships rather than aggressive discounting. Stable U.S. toxin market share, high account penetration, and rising loyalty membership indicate resilient engagement, supporting confidence that Evolus can navigate macro pressures and achieve its growth and profitability targets, which underpins the unchanged $13 price target and Buy rating.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $15.00 price target.