Shares of Evolus Inc (NASDAQ:EOLS) dropped 9.7% during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $15.90 and last traded at $16.00, approximately 948,952 shares traded hands during mid-day trading. An increase of 2% from the average daily volume of 927,829 shares. The stock had previously closed at $17.71.
The company reported ($1.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.96) by ($0.41). The company had revenue of $2.30 million for the quarter, compared to analyst estimates of $0.29 million.
EOLS has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Evolus from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Stifel Nicolaus set a $33.00 price target on shares of Evolus and gave the company a “buy” rating in a research report on Wednesday, July 31st. JMP Securities restated an “outperform” rating and issued a $30.00 price target (down previously from $35.00) on shares of Evolus in a research report on Tuesday. They noted that the move was a valuation call. Wells Fargo & Co initiated coverage on shares of Evolus in a research report on Friday, June 28th. They issued a “market perform” rating and a $16.00 price target for the company. Finally, Barclays initiated coverage on shares of Evolus in a research note on Tuesday, June 11th. They issued an “underweight” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $26.78.
In other news, major shareholder Corp Alphaeon sold 5,307,940 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $19.25, for a total transaction of $102,177,845.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kristine Romine purchased 2,090 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average price of $14.77 per share, for a total transaction of $30,869.30. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,931,327 shares of company stock worth $37,157,482. Company insiders own 3.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in EOLS. Patriot Financial Group Insurance Agency LLC grew its stake in Evolus by 50.0% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 1,500 shares of the company’s stock valued at $34,000 after buying an additional 500 shares during the last quarter. Meeder Asset Management Inc. grew its stake in Evolus by 48.9% in the 1st quarter. Meeder Asset Management Inc. now owns 1,732 shares of the company’s stock valued at $39,000 after buying an additional 569 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Evolus by 7.5% in the 2nd quarter. GSA Capital Partners LLP now owns 18,467 shares of the company’s stock valued at $270,000 after purchasing an additional 1,295 shares during the period. Pearl River Capital LLC boosted its holdings in Evolus by 217.7% in the 1st quarter. Pearl River Capital LLC now owns 1,906 shares of the company’s stock valued at $44,000 after purchasing an additional 1,306 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Evolus by 7.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 24,600 shares of the company’s stock valued at $360,000 after purchasing an additional 1,750 shares during the period. Institutional investors own 14.53% of the company’s stock.
The company has a quick ratio of 14.52, a current ratio of 14.80 and a debt-to-equity ratio of 0.96. The stock’s fifty day simple moving average is $16.44. The company has a market capitalization of $490.90 million, a PE ratio of -10.19 and a beta of 4.80.
About Evolus (NASDAQ:EOLS)
Evolus, Inc, a performance beauty company, provides medical aesthetic products for physicians and their patients in the United States. It offers Jeuveau, a proprietary 900 kilodalton purified botulinum toxin type A formulation for the temporary improvement in the appearance of moderate to severe glabellar lines in adults.
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