Evolus: Brokerages hike PT on "win-win" settlement over Botox rival

Medy-Tox

22/02/2021 14:47

** Multiple brokerages raise their PTs on Botox-rival maker
Evolus Inc  EOLS.O  after the company settled a long-standing
patent dispute related to the drug on Friday 
    ** Co, Botox-maker AbbVie  ABBV.N  and Medytox agreed to
resolve all outstanding litigation, including U.S. International
Trade Commission case regarding sale of EOLS's drug Jeuveau,
sending its shares up 71.6% on Friday  urn:newsml:reuters.com:*:nL4N2KP3E2
    ** Evolus regains freedom to operate based on its original
strategy to provide ease and cost transparency to its physician
customers, says Stifel, adding that the settlement is a win-win
for all parties 
    ** Stifel raised its PT to $25 from $11, among the highest
on Wall Street; SVB Leerink, Mizuho and H.C. Wainwright also
raised their PTs on the stock after the settlement 
    ** 5 of 8 brokerages rate the stock "buy" or higher, 2
"hold" and 1 "sell" or lower; their median PT is $9
    ** Shares slip 6.5% on Monday after Friday's surge; Stock up
~12% in the past 12 months 

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24; within U.S. +1 646 223 8780,
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