Revance price target lowered to $30 from $35 at Stifel

Stifel analyst Annabel Samimy lowered the firm’s price target on Revance to $30 from $35 and keeps a Buy rating on the shares after the company pre-announced “modest” Q4 results along with the JPM conference this week, which is “tempered” by the coming price adjustment to Daxxify coming in September. Though revenue guidance is weaker than expected, the firm believes this is reflective of the typical cadence of onboarding new accounts rather than a flaw in Daxxify’s long-term growth potential, the analyst tells investors.