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Investing.com - H.C. Wainwright lowered its price target on Evolus (NASDAQ:EOLS) to $20.00 from $27.00 on Wednesday, while maintaining a Buy rating on the stock following the company’s second-quarter earnings miss. The stock, currently trading near its 52-week low of $8.65, shows mixed signals according to InvestingPro data.
Evolus reported global net revenue of $69.4 million for the second quarter of 2025, up 4% year-over-year due to the Evolysee launch, but significantly below H.C. Wainwright’s estimate of $81 million and consensus expectations of $82 million. Despite recent challenges, the company maintains a healthy gross profit margin of 68.41% and a strong current ratio of 2.34, according to InvestingPro analysis.
The company reset its 2025 net revenue guidance to $295-$305 million from the previously guided $345-$355 million, representing 11%-15% growth compared to the prior guidance of 30%-33% growth, citing challenges from the macro environment.
Despite near-term headwinds, Evolus management reiterated its $700 million revenue target and non-GAAP operating income margin target of 20% for 2028, noting that their prior models had them tracking ahead of that number.
H.C. Wainwright’s analyst pointed out that procedure volumes across the US toxin market have been under pressure over the last three quarters, with competitor Allergan (NYSE:AGN) reporting decreases of 5%, 24%, and 9% in the fourth quarter of 2024 and the first two quarters of 2025, respectively.
In other recent news, Evolus has reported disappointing financial results for the second quarter of 2025. The company posted revenue of $69.4 million, which, although up 4% from the previous year, fell short of the consensus estimate of $82.0 million. Additionally, Evolus reported a loss per share of -$0.27, missing the forecasted -$0.10. This quarter marked the first-ever decline in Jeuveau sales, which dropped approximately 11% year-over-year due to a decrease in customer purchases in late June. In response to these results, BTIG has lowered its price target for Evolus from $21.00 to $18.00 but maintained a Buy rating on the stock. The firm’s analysts noted the revenue miss as a significant factor in their decision. These developments highlight recent challenges faced by Evolus in meeting market expectations.
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