Evolus (NASDAQ:EOLS) Shares Gap Down After Earnings Miss

Evolus, Inc. (NASDAQ:EOLS) gapped down prior to trading on Thursday following a weaker than expected 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) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $61.09 million for the quarter, compared to analysts’ expectations of $62.81 million.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Evolus in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $27.00 target price on shares of Evolus in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price target on shares of Evolus in a report on Friday, September 13th. Finally, Barclays lifted their price target 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.

Insider Activity

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

Hedge Funds Weigh In On Evolus

A number of institutional investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in Evolus in the second quarter valued at approximately $43,000. Quarry LP purchased a new stake in shares of Evolus in the second quarter valued at about $54,000. Profund Advisors LLC acquired a new stake in shares of Evolus during the 2nd quarter worth approximately $130,000. Arizona State Retirement System increased its stake in Evolus by 9.4% during the second quarter. Arizona State Retirement System now owns 14,603 shares of the company’s stock worth $158,000 after acquiring an additional 1,253 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Evolus by 9.9% in the 1st quarter. ProShare Advisors LLC now owns 11,542 shares of the company’s stock valued at $162,000 after buying an additional 1,035 shares during the period. 90.69% of the stock is owned by hedge funds and other institutional investors.

Evolus Stock Down 15.0 %

The company has a debt-to-equity ratio of 6.26, a quick ratio of 2.67 and a current ratio of 2.92. The business’s 50 day moving average price is $16.26 and its 200-day moving average price is $13.83. The firm has a market capitalization of $901.56 million, a PE ratio of -15.70 and a beta of 1.31.

About Evolus

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.