In a report released today, Douglas Tsao from H.C. Wainwright maintained a Buy rating on Evolus, with a price target of $20.00.
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Douglas Tsao has given his Buy rating due to a combination of factors including Evolus’s strategic response to market challenges and its long-term growth potential. Despite a recent reset in 2025 revenue guidance due to market softness, the company maintains a strong target of $700 million in sales by 2028. This demonstrates management’s confidence in their strategic initiatives and market positioning.
Furthermore, Evolus’s Jeuveau product continues to hold a significant 14% market share, indicating resilience in its competitive positioning. The company is also planning cost optimization strategies to save $25 million in operating expenses by 2025, aiming for profitability by the end of that year and annual profitability starting in 2026. These strategic moves, coupled with potential growth in the EU market, support the Buy rating despite current macroeconomic uncertainties.
Tsao covers the Healthcare sector, focusing on stocks such as Argenx Se, Protagonist Therapeutics, and Crinetics Pharmaceuticals. According to TipRanks, Tsao has an average return of 11.3% and a 45.03% success rate on recommended stocks.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $20.00 price target.