Evolus Inc Initiated with a Buy at Mizuho Securities

By Austin Angelo

Evolus Inc (NASDAQ: EOLS) received a Buy rating and a $21 price target from Mizuho Securities analyst Irina Rivkind Koffler today. The company’s shares closed on Friday at $11.44.

Rivkind Koffler said:

“We initiate coverage with a Buy rating and $21 PT. We expect Evolus and its low-cost toxin to carve out a niche in the attractive cash-pay cosmetic market. KeyPoints Evolus is expected to be a disruptive force in the attractive cosmetic injectable market: Evolus is an aesthetics-focused company that plans to launch its injectable toxin in 2018. Evolus’ toxin, unlike other players in the U.S. market, is distinguished by its interchangeability with Botox and by the company’s willingness to offer meaningful discounts to physicians and/ or patients. Evolus will therefore effectively introduce a promoted Botox Cosmetic “branded generic” years ahead of any biosimilar product, and we expect its toxin to help with overall market access to younger or cost- sensitive patients. We think Evolus could carve out an attractive niche in this space and valuation is attractive even under extremely conservative launch assumptions. We initiate with a Buy rating and $21 PT.”

According to TipRanks.com, Koffler is a 5-star analyst with an average return of 14.2% and a 49.7% success rate. Koffler covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Apricus Biosciences Inc, and Pacira Pharmaceuticals.

Currently, the analyst consensus on Evolus Inc is Moderate Buy and the average price target is $23, representing a 101.0% upside.

In a report released today, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $25 price target.

The company has a one-year high of $12.97 and a one-year low of $9.60. Currently, Evolus Inc has an average volume of 179.3K.

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Evolus, Inc. is a medical aesthetics company. The company is engaged in providing physicians and patients with expanded choices in aesthetic procedures and treatments. Evolus was founded in November, 2012 and is headquartered in Irvine, CA.