Evolus (EOLS) PT Raised To $29 After Securing Financing - Mizuho

Mizuho Securities analyst, Irina Koffler, reiterated her Buy rating on shares of Evolus (NASDAQ: EOLS) and raised her price target to $29.00 (from $25.00) after the company secured access to a $100M term loan.that reduces financing risk with less dilution than expected. The company pulled down $75M of the $100M and reported $93.2M in cash on its balance sheet at the end of 2018, implying a balance of ~$168M to support the Jeuveau launch.

The analyst stated "We believe this event removes a key overhang on the stock. There are three pending 1H:19 catalysts that we expect will provide additional momentum to shares, including a May 8 Analyst Day".

For an analyst ratings summary and ratings history on Evolus click here. For more ratings news on Evolus click here.

Shares of Evolus closed at $23.85 yesterday.

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