Stifel analyst Annabel Samimy reiterates a Buy rating and $20 price target on shares of Evolus. Shares are down following reports that the Seoul Central District Court ruled against Daewoong in the Korean Medytox-Daewoong legal battle regarding the source of the botulinum toxin strain. Evolus had entered into a global settlement with Medytox in February 2021 related to the prior ITC dispute, and the company is indemnified from any outcome of Korean litigation and its business remains untouched, the analyst tells investors in a research note.
Published first on TheFly
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