Evolus (NASDAQ:EOLS) Shares Gap Down on Disappointing Earnings

Shares of Evolus, Inc. (NASDAQ:EOLS) gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $16.81, but opened at $15.26. Evolus shares last traded at $15.27, with a volume of 256,256 shares.

The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $61.09 million during the quarter, compared to the consensus estimate of $62.81 million.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of Evolus in a research note on Thursday. Barclays boosted their target price on shares of Evolus from $16.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Evolus in a report on Monday, September 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Evolus in a research note on Friday, September 13th.

Insider Transactions at Evolus

In related news, CFO Sandra Beaver sold 3,276 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $14.98, for a total value of $49,074.48. Following the completion of the sale, the chief financial officer now directly owns 148,502 shares of the company’s stock, valued at $2,224,559.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Sandra Beaver sold 3,276 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $14.98, for a total value of $49,074.48. Following the completion of the sale, the chief financial officer now directly owns 148,502 shares of the company’s stock, valued at approximately $2,224,559.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Tomoko Yamagishi-Dressler sold 5,631 shares of Evolus stock in a transaction on Friday, August 30th. The shares were sold at an average price of $15.85, for a total transaction of $89,251.35. Following the completion of the transaction, the chief marketing officer now directly owns 82,375 shares in the company, valued at $1,305,643.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Evolus

Several hedge funds have recently made changes to their positions in EOLS. Assenagon Asset Management S.A. raised its stake in Evolus by 0.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 955,555 shares of the company’s stock valued at $15,480,000 after acquiring an additional 8,452 shares during the last quarter. Rice Hall James & Associates LLC increased its stake in Evolus by 6.3% in the 3rd quarter. Rice Hall James & Associates LLC now owns 904,900 shares of the company’s stock valued at $14,659,000 after buying an additional 53,605 shares during the period. Lord Abbett & CO. LLC purchased a new position in Evolus during the 1st quarter worth $11,628,000. BNP Paribas Financial Markets raised its position in Evolus by 84.2% during the 1st quarter. BNP Paribas Financial Markets now owns 405,931 shares of the company’s stock worth $5,683,000 after buying an additional 185,532 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Evolus in the 2nd quarter worth $3,906,000. Institutional investors and hedge funds own 90.69% of the company’s stock.

Evolus Trading Down 9.5 %

The company has a quick ratio of 2.67, a current ratio of 2.92 and a debt-to-equity ratio of 6.26. The company’s fifty day moving average price is $16.29 and its two-hundred day moving average price is $13.83. The firm has a market cap of $959.60 million, a PE ratio of -16.78 and a beta of 1.31.

Evolus Company Profile

Evolus, Inc, a performance beauty company, focuses on delivering products in the cash-pay aesthetic market in the United States, Canada, and Europe. The company 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.