UPDATE: Truist Securities Downgrades Evolus (EOLS) to Hold

February 24, 2021 6:10 AM EST
Get Alerts EOLS Hot Sheet
Price: $13.58 -2.37%

Rating Summary:
    6 Buy, 3 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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(Updated - February 25, 2021 5:31 AM EST)

Truist Securities analyst Gregg Gilbert downgraded Evolus (NASDAQ: EOLS) from Buy to Hold with a price target of $12.00 (from $6.00).

The analyst comments "As we noted on 2/19 (see here), the settlement that EOLS struck with ABBV and Medytox to resolve the ITC dispute removed a major overhang, enabling EOLS to re-focus on building its brand and company without the distraction of a potentially crippling outcome. With the removal of this overhang, and the stock readjusting back up to a more fair value in our view, we are moving to Hold from Buy. We continue to be bullish on management and are optimistic that EOLS can create long-term value as it grows its core product Jeuveau and evolves its model to include other products."

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 $9.86 yesterday.

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