In a report released today, Louise Chen from Cantor Fitzgerald assigned a Buy rating to Revance Therapeutics (NASDAQ: RVNC), with a price target of $50. The company’s shares closed on Friday at $31.15.
Chen commented:
“We expect upward earnings revisions to levels not reflected in sell-side consensus expectations to drive shares higher. These could come from positive news flow for Revance’s key programs in development. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12- month price target of $50 and Overweight rating.”
According to TipRanks.com, Chen ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.5% and a 39.1% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aclaris Therapeutics Inc, Paratek Pharmaceuticals, and Spero Therapeutics Inc.
Revance Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $49.60.
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Based on Revance Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $35.04 million. In comparison, last year the company had a GAAP net loss of $27.16 million.
Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RVNC in relation to earlier this year.
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Revance Therapeutics, Inc. is a clinical stage biopharmaceutical company. It is engaged in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic, and therapeutic applications.
