In a report released today, Difei Yang from Aegis Capital reiterated a Buy rating on Revance Therapeutics (NASDAQ: RVNC), with a price target of $36. The company’s shares closed yesterday at $19.35.
Yang commented:
“We view the 24-week duration of effect in a very positive light. As such, we believe that what we are seeing in the data is a validation of the delivery vehicle for RT002. In our opinion, this should translate into a pricing premium over Botox in medical indications. As such, we have built a 50% price premium over Botox into our model for the CD and Plantar Fasciitis (PF) indications.”
According to TipRanks.com, Yang is a 4-star analyst with an average return of 7.2% and a 45.9% success rate. Yang covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Protalix Biotherapeutics, and Spectrum Pharmaceuticals.
Revance Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $36.
Based on Revance Therapeutics’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $75K and GAAP net loss of $27.16 million. In comparison, last year the company earned revenue of $75K and had a GAAP net loss of $19.89 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Revance Therapeutics, Inc. is a clinical stage specialty biopharmaceutical company, which engages on the development, manufacturing, and commercialization of novel botulinum toxin products for multiple aesthetic, and therapeutic applications. It focuses on the development of daxibotulinumtoxinA, a botulinum toxin, for a broad spectrum of aesthetic and therapeutic indications, including facial wrinkles and muscle movement disorders. The company was founded by Jacob M. Waugh and L. Daniel Browne in August 10, 1999 and is headquartered in Newark, CA.