In a report released today, Difei Yang from Mizuho Securities maintained a Buy rating on Revance Therapeutics (NASDAQ: RVNC), with a price target of $48. The company’s shares closed yesterday at $28.40.
Yang commented:
“We view fluctuation in quarterly spending as non-issue especially on the full year basis, the company is expected to stay within the guidance range. Management reiterated 2018 financial guidance and the company remains on track to file a BLA for RT-002 in glabellar lines in 1H19. Prior to this, Revance will report data from the SAKURA 3 long-term safety study of RT-002 in 2H18. In other indications, the company will initiate a phase 3 study of RT-002 in Cervical Dystonia.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 20.2% and a 50.6% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Alder Biopharmaceuticals, and Audentes Therapeutics.
Currently, the analyst consensus on Revance Therapeutics is Strong Buy and the average price target is $49.60, representing a 74.6% upside.
In a report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $50 price target.
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Based on Revance Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $35.91 million. In comparison, last year the company had a GAAP net loss of $27.16 million.
Based on the recent corporate insider activity of 47 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.
