BTIG sets $21 price target on Evolus stock with buy rating

On Thursday, BTIG analysts initiated coverage of Evolus (NASDAQ:EOLS), a company specializing in performance beauty products, with a Buy rating and a price target of $21.00. According to InvestingPro data, analysts’ price targets range from $20 to $27, suggesting significant upside potential from the current price of $10.11. The company’s market capitalization stands at approximately $643 million. The firm highlighted Evolus’ successful operation within the cash-pay medical aesthetic market, particularly noting the company’s licensing and distribution of Jeuveau, an FDA-approved neurotoxin. Evolus has also recently introduced Evolysse, an injectable hyaluronic acid gel filler that received FDA approval in February 2025.

Evolus’ foray into the minimally invasive cosmetic procedures market, which currently has a global total addressable market (TAM) of $6.2 billion and is expected to grow to $10 billion by 2028, positions the company favorably. InvestingPro data shows impressive revenue growth of 31.8% in the last twelve months, with a robust gross profit margin of 68.5%. For deeper insights into Evolus’s growth metrics and 7 additional ProTips, consider exploring InvestingPro’s comprehensive analysis. The analysts pointed out Evolus’ unique go-to-market strategy, which includes bypassing third-party payer reimbursement, offering pricing flexibility, and investing in co-branded marketing initiatives with provider practices.

The company’s strategic focus on millennials, the largest generational cohort in the U.S., through a distinctive brand, digital platform, and rewards programs was also underscored. Evolus has secured a 14% market share in the U.S. with Jeuveau and is expanding internationally. InvestingPro’s financial health analysis rates the company as GOOD, with particularly strong scores in growth potential. The company maintains a healthy current ratio of 2.4, indicating solid short-term financial stability. Despite the emergence of new competitors, BTIG expects Jeuveau to maintain its market share, supported by proprietary survey work.

Evolus is set to launch Evolysse in the U.S. on April 18, and Estyme outside the U.S. in the second half of 2025. BTIG anticipates that Evolysse will benefit from the company’s existing commercial infrastructure and may also positively influence Jeuveau sales. With the next earnings report due on May 13, investors seeking detailed analysis can access Evolus’s comprehensive Pro Research Report, available exclusively on InvestingPro, which provides in-depth insights into the company’s growth trajectory and market position. While BTIG’s initial projections are below Evolus’ long-range plan (LRP) for 2028, the analysts believe there are multiple avenues for Evolus to achieve its target of at least $700 million in revenue and a non-GAAP operating income margin of at least 20%.

In other recent news, Evolus has reported its fourth-quarter 2024 financial results, achieving a global net revenue of $79 million, marking a 30% year-over-year increase. The company also reported full-year revenues of $266.3 million, reflecting a 32% rise from the previous year. Despite missing earnings per share expectations with a reported EPS of -$0.11 against a forecasted $0.02, the revenue surpassed estimates, showcasing strong sales performance. Evolus’s guidance for 2025 projects revenues between $345 million and $355 million, indicating a growth of 30% to 33%, supported by the early approval of its Evolysse products. Analysts from H.C. Wainwright and Stifel have maintained a Buy rating on Evolus stock, with price targets of $27 and $25, respectively, reflecting confidence in the company’s market strategy and growth potential. Evolus’s Jeuveau product has seen significant market penetration, with over 50% of U.S. accounts now active and a record enrollment in its loyalty programs. The company’s strategic focus on new product launches and market expansion is expected to drive future growth, as highlighted by industry analysts.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.