Revance Therapeutics (RVNC) Receives a Buy from Cantor Fitzgerald


In a report released today, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Revance Therapeutics (NASDAQ: RVNC), with a price target of $50. The company’s shares opened today at $23.01, close to its 52-week low of $21.45.

Chen wrote:

“. Post a solid quarter of execution in 3Q18, we reiterate our OW rating and 12-month price target of $50 on shares of RVNC. We expect upward earnings revisions to levels not reflected in sell-side consensus expectations to drive the stock higher. RVNC’s long-duration, next-generation injectable neuromodulator may be a pipeline in a product. RT002 targets a $3B+ market opportunity for both medical and aesthetic indications.”

According to TipRanks.com, Chen is a 5-star analyst with an average return of 11.6% and a 39.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Amneal Pharmaceuticals Inc, and Aridis Pharmaceuticals Inc.

Currently, the analyst consensus on Revance Therapeutics is a Strong Buy with an average price target of $51.

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Based on Revance Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $34.08 million. In comparison, last year the company had a GAAP net loss of $30.65 million.

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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.

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