Mizuho Securities analyst Difei Yang maintained a Buy rating on Revance Therapeutics (RVNC) today and set a price target of $37. The company’s shares closed on Friday at $13.98, close to its 52-week low of $13.63.
Yang noted:
“We were on the west coast last week visiting companies and KOLs. We met with Dr. to discuss botulinum toxin injections. A key takeaway from our discussion was the clear longer duration of effect with Revance’s DAXI (RT002) – with some patients maintaining effect as long as 9 months. Dr. Shamban was optimistic regarding the growth of the toxin market driven by new entrants/products and noted a significant growth opportunity from millennials. She doesn’t believe a six months label is necessary for the success of DAXI. Our full takeaways are highlighted below.”
According to TipRanks.com, Yang is a 5-star analyst with an average return of 14.1% and a 44.8% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Revance Therapeutics with a $39 average 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 $40.62 million. In comparison, last year the company had a GAAP net loss of $35.04 million.
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Revance Therapeutics, Inc. is a clinical stage biotechnology company. It is engaged in the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic, and therapeutic applications.
