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Investing.com - Mizuho (NYSE:MFG) has reiterated an Outperform rating on Evolus (NASDAQ:EOLS) stock with a price target of $19.00 following a two-day non-deal roadshow with the company’s management. The stock, currently trading at $7.23, has shown strong momentum with a nearly 13% gain over the past week, according to InvestingPro data.
The research firm noted that EOLS’ valuation was a recurring theme during meetings with primarily large high-quality long-only investors. Mizuho highlighted that Evolus currently trades at approximately 1.8x EV/2025E sales compared to historical comparables of 4-5x. The company maintains healthy liquidity with a current ratio of 2.27, while delivering solid revenue growth of 17.15% over the last twelve months.
Despite Evolus’ market capitalization being typically too small for many investors after disappointing second-quarter 2025 results, Mizuho reported that some investors indicated they might make ownership exceptions due to the company’s attractive valuation combined with its compelling profile.
Mizuho cited several positive factors supporting its outlook, including large underpenetrated markets for neurotoxin and HA dermal fillers, two long-duration assets (Jeuveau and the Evolysse line), and expectations for near-term profitability in the fourth quarter of 2025 and full-year 2026.
The firm expressed confidence that the second quarter of 2025 represented a reset for Evolus and predicted that overall second-half 2025 sales should improve compared to the first half of the year. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of over 1,400 US stocks.
In other recent news, Evolus Inc . reported its second-quarter 2025 earnings, revealing a wider-than-expected loss. The company posted an earnings per share (EPS) of -$0.27, missing the forecast of -$0.10. Revenue for the quarter reached $69.4 million, which was below both H.C. Wainwright’s estimate of $81 million and the consensus expectation of $82 million. Despite a 4% year-over-year increase in revenue due to the Evolysee launch, Evolus experienced its first-ever decline in Jeuveau sales, which fell by approximately 11% year-over-year. In response to these results, H.C. Wainwright lowered its price target for Evolus to $20, maintaining a Buy rating, while BTIG reduced its target to $18, also retaining a Buy rating.
Additionally, Evolus has submitted the final module of its Premarket Approval application to the FDA for Evolysse™ Sculpt, an injectable hyaluronic acid gel. The company anticipates FDA approval in the second half of 2026. Meanwhile, Mizuho reiterated its Outperform rating on Evolus, highlighting the company’s compelling valuation, with a price target of $19. These developments reflect Evolus’ ongoing efforts to navigate market challenges and expand its product offerings.
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