Mizuho Securities Thinks Revance Therapeutics’ Stock is Going to Recover

By Carrie Williams

Mizuho Securities analyst Difei Yang maintained a Buy rating on Revance Therapeutics (RVNCResearch Report) yesterday and set a price target of $37. The company’s shares closed yesterday at $13.59, close to its 52-week low of $12.87.

Yang said:

“We estimate a floor valuation of $17/share which includes: additional dilutive financing, Fosun deal, no credit for therapeutics, poor performance in U.S. aesthetics. With credit for therapeutics and fair aesthetic assumptions, we see ~180%+ upside to our base case $37 PT.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 11.8% and a 42.2% success rate. Yang covers the Healthcare sector, focusing on stocks such as Nightstar Therapeutics Limited, Xeris Pharmaceuticals Inc, and Alder Biopharmaceuticals.

Currently, the analyst consensus on Revance Therapeutics is a Strong Buy with an average price target of $36.80.

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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.