Piper Jaffray Believes Revance Therapeutics (NASDAQ: RVNC) Won’t Stop Here

By Jason Carr

In a report issued on December 5, David Amsellem from Piper Jaffray reiterated a Buy rating on Revance Therapeutics (NASDAQ: RVNC), with a price target of $51. The company’s shares closed yesterday at $33.65, close to its 52-week high of $37.20.

According to TipRanks.com, Amsellem is a 2-star analyst with an average return of 0.1% and a 48.4% success rate. Amsellem covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Amphastar Pharmaceuticals.

Currently, the analyst consensus on Revance Therapeutics is Strong Buy and the average price target is $43.33, representing a 28.8% upside.

In a report issued on November 27, Barclays also initiated coverage with a Buy rating on the stock with a $31 price target.

Based on Revance Therapeutics’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $75K and GAAP net loss of $30.65 million. In comparison, last year the company earned revenue of $75K and had a GAAP net loss of $17.98 million.

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RVNC in relation to earlier this year.

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Revance Therapeutics, Inc. is a clinical stage 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 on August 10, 1999 and is headquartered in Newark, CA.