Evolus Inc. (NASDAQ: EOLS) was featured in a recent equity research report published by Mizuho Securities USA LLC. The report reads, “Evolus announced a business update after the close as the aesthetics-focused company adjusts its cost structure and commercialization strategy in the face of the COVID-19 pandemic. With the majority of US aesthetics practices now closed or only seeing urgent cases, and the economic impact of the pandemic expected to significantly impact discretionary spending for several months, the company is reducing its headcount by >40%, temporarily reducing executive salaries and Board of Director fees, and delaying the European launch of Nuceiva until next year. We recently adjusted our model in conjunction with a proprietary survey of 20 aesthetics-focused physicians but make further adjustments today that lead us to lower our price target to $10.”
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About Evolus Inc.
Evolus is a performance beauty company with a customer-centric approach focused on delivering breakthrough products. In 2019, the U.S. Food and Drug Administration approved Jeuveau® (prabotulinumtoxinA-xvfs), the first and only neurotoxin dedicated exclusively to aesthetics and manufactured in a state-of-the-art facility using Hi-Pure™ technology. Jeuveau® is powered by Evolus' unique technology platform and is designed to transform the aesthetic market by eliminating the friction points existing for customers today. Visit us at: www.evolus.com.
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