Leerink Partners analyst Marc Goodman has maintained their bullish stance on EOLS stock, giving a Buy rating on February 14.
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Marc Goodman has given his Buy rating due to a combination of factors related to Evolus’s strategic developments and recent achievements. The company’s recent FDA approval for its first two filler lines, Form and Smooth, was secured ahead of the anticipated timeline, which is a positive indicator of operational efficiency. This approval leverages the existing marketing infrastructure for Jeuveau, potentially expanding the company’s market reach by 78%, thereby enhancing its growth prospects.
Furthermore, the company’s innovative cold linker technology in the Evolysse line is a significant differentiator, offering longer-lasting results by preserving the structure of hyaluronic acid. This technological edge positions Evolus favorably against competitors. Financially, management’s guidance suggests robust sales growth, with projections of $30 million in global filler franchise sales for the current year and an increase to $150 million by 2028. Despite recent stock volatility due to market reactions to guidance changes, the overall trajectory and strategic positioning make Evolus a compelling investment opportunity according to Goodman.
According to TipRanks, Goodman is a 4-star analyst with an average return of 6.1% and a 46.67% success rate. Goodman covers the Healthcare sector, focusing on stocks such as Biohaven Ltd., Axsome Therapeutics, and Evolus.
In another report released on February 14, H.C. Wainwright also reiterated a Buy rating on the stock with a $27.00 price target.