Evolus’s Strong Market Position and Growth Prospects Justify Buy Rating Despite Revenue Miss

Analyst Serge Belanger of Needham maintained a Buy rating on Evolus (EOLS – Research Report), retaining the price target of $22.00.

Serge Belanger has given his Buy rating due to a combination of factors including Evolus’s strong performance in the aesthetics market. Despite a slight revenue miss compared to expectations, Evolus’s product, Jeuveau, has significantly outpaced the overall toxin market, which is projected to grow at a slower rate. This performance is notable given that the leading competitor, Botox, experienced a substantial year-over-year decline in sales.
Belanger’s confidence in Evolus is further supported by the company’s ability to maintain its market share and its ambitious revenue guidance for 2025, which anticipates a 30% to 33% increase. The recent launch of Evolysse is expected to bolster Jeuveau’s growth, positioning Evolus to continue outperforming market trends. These factors collectively justify the Buy rating and the price target of $22.

In another report released today, Mizuho Securities also maintained a Buy rating on the stock with a $25.00 price target.