Evolus Set For Promising 2024: Analysts Maintain Positive Outlook On Botox Alternative Maker
Portfolio Pulse from Vandana Singh
Evolus Inc (NASDAQ:EOLS) reported Q4 2023 revenue of $61 million, a 40% Y/Y increase, surpassing consensus estimates. Full-year revenue was $202 million, exceeding guidance and consensus. For FY 2024, Evolus forecasts revenues of $255-$265 million, with positive non-GAAP operating income expected in 2025. The company plans to submit FDA applications for Evolysse products in mid-2024 and anticipates European approvals for Estyme products in 2H 2024. Analysts from Needham, HC Wainwright, Cantor Fitzgerald, and Stifel maintain positive outlooks with Buy ratings and price targets ranging from $22 to $27. EOLS shares rose 21.24% to $12.50.
January 17, 2024 | 8:55 pm
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POSITIVE IMPACT
Evolus exceeded Q4 and full-year 2023 revenue expectations, provided a strong 2024 outlook, and is advancing regulatory submissions for its products. Analysts are positive, with Buy ratings and price targets significantly above the current price.
The positive revenue report and optimistic future outlook, combined with strong analyst support and price targets that suggest significant upside potential, are likely to have a favorable impact on EOLS's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100