Analyst Serge Belanger from Needham maintained a Buy rating on Evolus (EOLS – Research Report) and keeping the price target at $22.00.
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Serge Belanger has given his Buy rating due to a combination of factors related to Evolus’s recent developments and strategic positioning. The early FDA approval of Evolus’s first two Evolysse filler products, Form and Smooth, has set a positive tone for the company’s future endeavors. Initially expected later in the year, this approval came sooner than anticipated, potentially facilitating an earlier product launch and incremental sales growth.
Furthermore, Evolus’s strategic acquisition of U.S. distribution rights from Symatese, along with their existing commercial infrastructure, positions the company well for successful product introductions. The use of Cold-X technology in the manufacturing of Evolysse products is also a notable advantage, promising a more natural and long-lasting filler. Additionally, the expansion of their distribution agreement to the UK and Europe reflects Evolus’s commitment to international growth, enhancing its overall market potential.
Belanger covers the Healthcare sector, focusing on stocks such as Cytokinetics, Omeros, and Revance Therapeutics. According to TipRanks, Belanger has an average return of 0.7% and a 41.20% success rate on recommended stocks.
In another report released on January 27, Barclays also maintained a Buy rating on the stock with a $22.00 price target.