H.C. Wainwright analyst Douglas Tsao reiterated a Buy rating on Evolus (EOLS – Research Report) today and set a price target of $27.00.
Douglas Tsao has given his Buy rating due to a combination of factors that highlight Evolus’s promising growth trajectory. The company has shown strong financial performance, with a notable increase in global net revenue and achieving profitability ahead of expectations. This growth is supported by the successful performance of Jeuveau and the anticipated contribution from the newly launched Evolysse line, which received early approval and is expected to significantly boost revenue in the coming year.
Additionally, Evolus’s strategic initiatives, such as the introduction of the Evolus Club subscription program and the focus on leveraging the ‘Ozempic effect,’ position the company well in the competitive aesthetics market. The company’s ability to capture market share and maintain strong brand loyalty, as evidenced by the growth in new accounts and existing patient treatments, further supports the positive outlook. These factors, combined with management’s proactive approach to market expansion and product development, underpin Tsao’s confidence in Evolus’s potential for continued success.
In another report released today, Needham also maintained a Buy rating on the stock with a $22.00 price target.