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LRLCF - Evolus: Positive Results From Phase 3 Trial But Expensive
L'Oreal S.A.
Evolus, Inc. (EOLS) obtained impressive results from its Phase III trial. Also, it received its first revenue in h1 2019, which investors will most likely appreciate. With that, the market appears to be too optimistic. The company is valued having an enterprise value of $531 million and an EV/ 2019 Sales of 160x, which seems too expensive. The company's enterprise value should not be worth 23% of the total market size. Its operating history still does not justify such a valuation.
Business
Evolus, Inc. is a beauty company operating in the self-pay aesthetic