Revance price target lowered to $16 from $35 at Mizuho

Mizuho analyst Uy Ear lowered the firm’s price target on Revance to $16 from $35 and keeps a Buy rating on the shares. At current levels, the analyst continues to like Revance shares, believing Daxxify is a major contender in the cosmetic neurotoxin market, given its longer duration. However, it may take time to work through unexpected early launch kinks, says the firm, which lowered Daxxify sales estimates by 40%-50%. Mizuho believes Daxxify is underappreciated at current share levels.