H.C. Wainwright Initiates a Buy Rating on Revance Therapeutics (RVNC)

By Austin Angelo

In a report released today, Douglas Tsao from H.C. Wainwright initiated coverage with a Buy rating on Revance Therapeutics (RVNCResearch Report) and a price target of $25. The company’s shares closed yesterday at $17.78, close to its 52-week low of $16.56.

Tsao said:

“Our $25 price target for Revance is based on our sum of the parts NPV valuation based on each of RT-002’s targeted indications. Our DCF model utilizes a WACC-derived discount rate of 12.2% (Beta of 1.4, equity risk premium of 6.7%). We adjust each indication for probability of success with glabellar lines at 85%, cervical dystonia at 80%, plantar fasciitis at 25%, chronic migraine at 35% and upper limb spasticity at 80%.”

According to TipRanks.com, Tsao is ranked #2794 out of 5163 analysts.

Revance Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $42.17.

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The company has a one-year high of $34.55 and a one-year low of $16.56. Currently, Revance Therapeutics has an average volume of 443.8K.

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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.