Evolus, Inc. EOLS shares rallied 5.5% in the last trading session to close at $15.04. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 41.6% gain over the past four weeks.
Evolus recorded a strong price increase after it announced the receipt of the FDA’s approval for Evolysse Form and Evolysse Smooth injectable hyaluronic acid (HA) gels, the first two products in the Evolysse collection. These approvals mark Evolus’ entry into the U.S. HA dermal filler market and is expected to solidify its position as a multi-product innovator in aesthetics, expanding Evolus’ total addressable market by 78% to approximately $6 billion.
This company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +142.9%. Revenues are expected to be $79 million, up 29.5% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Evolus, the consensus EPS estimate for the quarter has been revised 100% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on EOLS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Evolus is part of the Zacks Medical - Products industry. Verano Holdings Corp. VRNOF, another stock in the same industry, closed the last trading session 2.6% higher at $1.18. VRNOF has returned -1.7% in the past month.
Verano Holdings Corp.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.07. Compared to the company's year-ago EPS, this represents no change. Verano Holdings Corp. currently boasts a Zacks Rank of #3.
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